Polygon forms a strategic partnership with neo-banking app Hi to embark on its journey to becoming the flagbearer of gasless fees for NFTs.Users have rather more options now when customizing their non-fungible tokens. Hi, a neo-banking app allows customers to use Mastercard to spend either fiat or digital currency. Polygon Studios and hi have announced their collaboration to bring innovative news, first for hi & Mastercard, where users can mint their non-fungible tokens using an image they like.
The image can be anything and would feature on the Web3 Debit Mastercard. Creators, irrespective of their experience, can leverage this opportunity for a better experience. Mastercard is accepted by over 90 million merchants across the world. A Web3 Debit card with their NFT face will surely bring a nice experience. Furthermore, users can use any personal NFT, like that of a holiday photo, a picture of a pet, or even any online photo as the cover picture of the NFT. Furthermore, this would help them from paying the gas fees.
The development applies exclusively to the users of hi who can access polygon.hi.com and learn about the steps to mint an NFT.
However, hi, has announced to lower the Membership threshold for NFT customization to celebrate its collaboration with Polygon Studios. Users under hi Silver and above tier are now eligible to create their NFTs. Silver Tier is achieved by simply signing up on hi and staking its native token – HI.
Users registering on the platform get several benefits. For instance, users earn up to 10% Spend Reward and travel benefits on every transaction.
The best thing about the minting process is that it is a completely gasless experience. Users in over 25 European countries and the United Kingdom will initially have access to the feature. According to his announcement, the feature is scheduled to be rolled out in December 2022.
Having a Web3 Debit Mastercard is a blessing with innovative functionalities. Members can earn cryptocurrency rewards while spending their funds. Another innovative functionality users can access Buy No Convert Later, with convenient top-ups.
The move follows other strategic partnerships entered by Polygon with Magic Eden and Starbucks.
NFT transactions on Polygon have risen 1,648% since the beginning of December 2022. Assuming such partnerships keep happening, Polygon will surpass other industry players.
The partnership between hi and Polygon is strongly backed by the belief of Polygon in Web3. The decentralized Ethereum scaling platform enables developers to build decentralized applications that are scalable based on their user-friendliness.
There could be scope for further usage of customized NFTs. They are currently for Mastercard. In the coming time, the utility could increase with a higher application in addition to the NFT Debit Mastercard.
The minting process on Polygon is fast and simple, allowing everyone to mint their favorite NFTs. Users can expect the feature to go live maximum by the end of December, following which they will have the liberty to mint the NFTs based on their favorite image. It could be a portrait of themselves or a special moment from traveling days.