Mastercard NFT chief steps down and tokenizes resignation letter

Mastercard NFT product lead Satvik Sethi stated in a collection of tweets on Feb. 2 that he has resigned from that place, which he has held for the previous yr.

Sethi stated he skilled harassment and misery as a result of firm’s administration. He urged that his wage was denied to him, his employment contract was overridden, and that he was blocked from on-line accounts.

Sethi stated that he’s minting and promoting his resignation letter as an NFT priced at 0.023 ETH ($38.00) to assist himself. He stated that he’ll airdrop extra art work to supporters sooner or later. Manifold, the app on which consumers can mint the token, reviews that 38 tokens have been minted on the time of writing.

Sethi additionally emphasised the extent of his function on the firm. He stated that every one questions on Web3 ⁠— together with these from companions ⁠— had been directed to him. He added:

“[Mastercard] may attempt to discredit me or downplay my contributions. However the truth is ⁠— globally our companions, purchasers, and regional groups affiliate Mastercard x NFTs with me.”

Mastercard has not commented on Sethi’s resignation. Presumably, it’s going to proceed to supply its numerous non-fungible token options regardless of Sethi’s key function.

In June 2022, Mastercard partnered with numerous NFT marketplaces, together with ImmutableX, Sweet Digital, The Sandbox, Mintable, Spring, and Nifty Gateway. That partnership allowed cardholders to purchase NFTs with out buying cryptocurrency as an intermediate step. The same partnership with Coinbase preceded that effort by a number of months.

Mastercard has additionally labored with Polygon to launch an artist accelerator that helps individuals to mint NFTs. The corporate partnered with the crypto app Hello to supply customizable debit playing cards that includes NFT avatars final yr.

Outdoors of NFTs, Mastercard can be working to supply crypto-related companies, together with buying and selling companies, monitoring instruments, and reward choices. It additionally powers fee playing cards supplied by cryptocurrency corporations, together with Uphold, Wirex, Nexo, and Bitpay.