In a groundbreaking move, Miami City has announced its NFT project in partnership with TIME Magazine and Mastercard.

Mayor Francis X. Suarez has introduced a pioneering Web3 initiative that aims to boost the local economy, focusing on generating income for businesses and non-profit organizations.

For this endeavor, the mayor is collaborating with TIME Magazine, Mastercard, and Salesforce, a leader in global customer relationship management. Salesforce is set to offer the necessary technical framework, whereas TIME Magazine will oversee the creative aspects and promotional strategies for the project.

Keith Grossman, president of TIME Magazine, remarked, “The NFTs will showcase the rich diversity that Miami embodies.”

Through this collaboration, Miami plans to unveil a collection of 5,000 NFTs featuring designs by 56 artists from the area, symbolizing the city’s 56 square miles. Not only will the NFT owners gain unique artwork, but they will also benefit from access to Mastercard’s Priceless Miami program, which offers exclusive tours of cultural destinations and private events.

Mayor Francis X. Suarez emphasized, “Miami is at the forefront of the Web3 movement, and we are committed to leveraging these technologies to support our current businesses while attracting new ventures, raise capital, and create engaging experiences for both residents and visitors. Furthermore, this innovative approach allows us to support our local artists and charitable organizations.” He intends to roll out this project by December this year.

I’m thrilled to collaborate with such a trailblazing company led by a truly innovative president, all for the benefit of our community's artists! @KeithGrossman — Mayor Francis Suarez (@FrancisSuarez) https://t.co/CYtgHZ72DD

In its quest to establish itself as a prominent American crypto hub, Miami has played host to numerous Bitcoin conferences and NFT gatherings, continuously drawing interest from crypto investors and NFT enthusiasts. July 28, 2022

This was highlighted during a recent Crypto Conference held in Miami Beach, where discussions spanned topics like cryptocurrencies, decentralized finance, NFTs, gaming finance, and the Metaverse.

In July, the city hosted the first Metaverse Swimwear Fashion Week Dubai has initiated a comprehensive Metaverse strategy aimed at contributing $4 billion to its national economy.

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