City of Miami Announces Collection of 5,000 NFTs. The Mayor of the City of Miami, Francis X. Suarez, took the stage yesterday to announce his intention to launch a collection of NFTs by the end of the year. To do this, it has called on renowned partners, who will allow the project to take place in optimal conditions.
A collection of approximately 5000 NFTs
This collection, of nearly 5,000 NFTs, will pay homage to the city since, according to Keith Grossman, president of TIME:
"The visuals will reflect the immense diversity that can be found in the city of Miami."
What's more, these NFTs will be made exclusively by artists from the city of Miami. In total, they will be 56. A number that is not chosen at random, as it refers to its area of 56 square miles (which is equivalent to approximately 145 square kilometers).
A positive impact on the whole city
Beyond the usefulness for their holders, this NFT project aims to have a much greater impact, contributing to the entire city of Miami.
Thus, the press release issued by the city of Miami was very explicit on this subject:
"This collection will raise capital and provide experiences for our citizens as well as those who visit this city. In addition, we will also be able to take advantage of this new initiative to support local artists and organizations."
One thing is certain: if this project is carried out and the goals achieved, it should give ideas to many other cities around the world.
Prestigious collaborations
The least we can say is that this project definitely does not seem to have been taken lightly by the mayor of Miami. To carry it out, he surrounded himself with partners of choice: MasterCard, TIME, and Salesforce.
Each of these companies will bring a concrete utility to this collection. Thus, MasterCard will allow holders of these non-fungible tokens to enjoy unique and memorable experiences, thanks to the Priceless Miami program.
As for TIME, the company will come to establish a strategy and bring its experience to the world of NFTs, since it is already very well established there, in particular thanks to its collection, named TIMEPieces, and launched in September 2021.
Moreover, Miami's NFT project is the first to benefit from TIME's assistance. They want to help other projects see the light of day in web3 in the future, and guide them in their strategy.
Finally, Salesforce will take care of the mint process as well as all the technical specificities related to the primary sale, thanks to its new platform, NFT Cloud.
These judicious choices will allow the collection to ensure an intelligently thought-out launch and a real long-term strategy.
The city of Miami: A follower of web3
While this initiative may come as a surprise since very few cities have embarked on a similar process, there is actually nothing surprising, when we know the liabilities of the city of Miami vis-Ã -vis the web3.
In August 2021, Suarez notably launched MiamiCoin (MIA), a cryptocurrency stored in the city's wallet, which could be traded like any other crypto.
Although it is currently down sharply from its all-time high, it has generated considerable revenue: $2 million in just two months.
In addition, a portion of these MIAs is currently staked to generate revenue, in Bitcoin. The city has also shared its desire to share an amount of these gains generated with its residents.
Moreover, the current state of the NFT and cryptocurrency market (rather bearish) does not seem to discourage the mayor of the city in the least. He seems determined to continue in this process.
In this regard, he asserts:
"We will continue to use these new technologies to support our existing businesses while attracting new businesses."
In short, the city of Miami seems to be ahead of its time and has recognized the potential of NFTs, as well as web3 as a whole. These innovative initiatives testify to obvious democratization and gain in adoption.
So, which will be the next cities to bet on web3 this year? Case to follow!
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