Mastercard NFT leader steps down and tokenizes resignation letter

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MasterCard steps down as NFT leader and tokenizes resignation letter MasterCard steps down as NFT leader and tokenizes resignation letter
MasterCard steps down as NFT leader and tokenizes resignation letter

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Cover art/illustration via Cryptooshala

Mastercard NFT Product Head Satwik Sethi said in a series of tweets February 2 That he has resigned from the post on which he was working for the last one year.

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Sethi said that he experienced harassment and distress due to the company’s management. They suggested that his pay had been denied, his employment contract had been cancelled, and that he had been blocked from online accounts.

Sethi said he is creating and selling his resignation letter as an NFT worth 0.023 ETH ($38.00) to support himself. He stated that he would broadcast additional artwork to supporters in the future. Manifold, the app on which buyers can generate tokens, report that At the time of writing, 38 tokens have been mined.

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Sethi also stressed on the extent of his role in the company. He said that all questions about Web3 ⁠— including those from partners ⁠ — were directed to him. she added:

,[Mastercard] May try to discredit me or belittle my contribution. But the fact is that our partners, customers and regional teams globally connect MasterCard x NFTs to me.

Mastercard has not commented on Sethi’s resignation. Presumably, it will continue to offer its various non-fungible token features despite Sethi’s key role.

In June 2022, Mastercard partnered with various NFT marketplaces including ImmutableX, Candy Digital, The Sandbox, Mintable, Spring and Nifty Gateway. That partnership allowed cardholders to purchase NFTs without having to purchase cryptocurrency as an intermediate step. A similar partnership with Coinbase preceded that effort by several months.

Mastercard has also partnered with Polygon to launch an artist accelerator that helps participants create NFTs. The company last year partnered with crypto app Hi to introduce customizable debit cards featuring NFT avatars.

Outside of NFTs, Mastercard is also working to offer crypto-related services, including trading services, monitoring tools, and reward options. It also powers payment cards provided by cryptocurrency firms, including Uphold, Wirex, Nexo and Bitpay.

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