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NFT News: Satvik Sethi, the former non-fungible token (NFT) product lead at Mastercard, resigned on Thursday. Sethi claimed that because of the management of the company, he was harassed and distressed. He added that Mastercard withheld his salary and his employment agreement had been ignored. Also, he had been barred from accessing online accounts.
I have resigned from @Mastercard.
For the past year, I served as the ‘NFT Product Lead.’ I evangelized Web3 for Mastercard leadership & regional teams, as well as all our Fortune 500 clients & partners.
This wasn’t easy but read on for why it was necessary, and what’s next 🧵: pic.twitter.com/kqiavsSIW7
— Satvik Sethi (@sxtvik) February 2, 2023
In order to support himself, Sethi claimed that he is minting and selling his letter of resignation as an NFT for 0.023 ETH ($38.00). He promised that in the future, he would airdrop more artwork for his fans. The app Manifold, where buyers can mint the token, reports that 38 tokens have been produced as of this writing.
Mastercard leader will create his own Web3 social networking site
Now, Sethi will focus on creating his own Web3 social networking and community-building platform, joincircle. He also stated in his letter that he has plans to publish various kinds of art in the future.
joincircle is now my top priority. We have 90,000+ sign ups, 35+ partner communities, 300,000+ potential users waiting for the ultimate social platform. Doing justice by all of you is my goal. We have an NFT collection, platform, & other things in the works. Stay tuned, sooooon!
— Satvik Sethi (@sxtvik) February 2, 2023
Sethi also emphasized the scope of his contribution to the organization. He claimed that he should be contacted with any queries regarding Web3 including those from partners.
Mastercard has not issued a statement in response to Sethi’s resignation. Despite Sethi’s pivotal role, it is likely that it will continue to provide its various non-fungible token features.
Mastercard collaborated with a number of NFT marketplaces
In June 2022, Mastercard entered into partnerships with a number of NFT marketplaces, including ImmutableX, Candy Digital, The Sandbox, Mintable, Spring, and Nifty Gateway. Due to this partnership, cardholders could purchase NFTs directly without first buying digital tokens. That project was preceded by several months of a similar partnership with Coinbase.
Additionally, Mastercard and Polygon collaborated to introduce an artist accelerator program that assists users in creating NFTs. Last year, the business collaborated with the cryptocurrency app Hi to offer customizable debit cards with NFT avatars. In addition to NFTs, Mastercard is working to provide services related to cryptos, such as trading services, monitoring tools, and reward options. Additionally, it supports the payment cards provided by cryptocurrency companies like Uphold, Wirex, Nexo, and Bitpay.
Also Read: What Is Star Atlas? How Much Does It Cost To Play Star Atlas?
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