Miami is partnering with TIME magazine publisher Time USA, Mastercard, and Salesforce to make it happen to make NFTs.
The city of Miami’s Mayor Francis X. Suarez shared plans on Thursday to release 5,000 Ethereum NFTs later this year.
The NFTs are being designed by 56 different Miami artists “representing the city’s 56 square mile area,” according to a city press release.
Time USA will help define the city’s NFT strategy, Mastercard will offer Miami NFT holders exclusive benefits, and Salesforce will manage the NFTs’ minting and primary sales process with its new NFT Cloud platform.
The Miami NFT project is TIME’s first foray into helping other entities deploy NFT projects, TIME President Keith Grossman said.
Mayor Suarez appears unfazed by the current crypto bear market, which has led some crypto companies to lay off staff and file for bankruptcy.
Miami’s Ethereum NFTs are planned for a December launch after Ethereum’s move to proof of stake.