What initially comes to mind when you think about Miami? Is it Miami seaside? Miami nightlife? Genuine Cubanos? Dwyane Wade? The city of Miami now wants you to include “Web3 hotspot” in that list.
During the NFT industry’s bull run in 2021, Art Basel Miami was unquestionably one of the most significant events. Numerous NFT followers gathered to the occasion’s numerous locations all across the town to catch one of many many NFT-centric occasions happening during one of the fundamental essential networking occasions for the entire artwork profession — not only within the NFT artwork area.
After hosting one of many “industry-defining” occurrences, it is logical that the City of Miami would embrace NFTs completely. The Miami city government is collaborating with TIME, one of Web3’s most prominent advocates on the planet of conventional media, in addition to Mastercard and Salesforce to launch a collection of “nearly 5,000 NFTs designed by 56 native Miami artists,” according to an announcement on the city’s official website.
And, if Miami and its partners are successful, this move could serve as a model for other cities to push into Web3 capabilities with their own NFT options.
A digital and physical occasion
The project is intended as a celebration of Miami’s lively culture and rich history. Mastercard’s Priceless Miami program provides holders of these NFTs with access to “exclusive experiences, from one-of-a-kind events at local Miami restaurants to curated, unforgettable private tours of Miami cultural institutions and other memorable activities”
With this application incorporated into the project, the city of Miami believes that IRL experiences made out for NFT holders would motivate the general public to explore the city on their very own, bringing extra foot site visitors — and possibly revenue — to the city.
Due to its shut links with the NFT group, together with its annual hosting of Artwork Basel Miami, one of many industry’s now-flagship occasions, Miami retains advantageously positioned to sponsor NFT assortment debuts, regardless of a world, multi-industry-spanning bear market.
“The Metropolis of Miami has been at the forefront of the web3 revolution, and we’ll proceed to use these new applied sciences to assist our current businesses whereas attracting new ones, raise capital, and provide experiences for our residents and guests,” stated Miami Mayor Francis X. Suarez in the press release. “At the same time, we can utilize this innovative technique to support local artists and charity.” Ultimately, there is no assurance that Miami’s plans for a Web3 oasis will be realized. But if it gets even halfway there, it might serve as a pacesetter and a model for other major cities in the U.S. — and the world — to fund NFT launches and become a part of a single future. One where homegrown artists have more options for self-sustenance, and all of the things that make a city a great place to live find a new reason to celebrate.