A model for future cities? Miami is launching its own NFT collection

What’s the first thing that comes to your mind when you think of Miami? Is it Miami Beach? Miami nightlife? Authentic Cuban? Dwyane Wade? All correct, but now Miami’s city government wants you to add “Web3 Hotspot” to that list.

During the bull run of the NFT industry throughout 2021, one of the most important events during this period was undoubtedly Art Basel Miami. Many NFT enthusiasts flock to event venues across the city to catch one of the many NFT-focused events taking place at one of the industry’s most significant networking events — not just the NFT industry space.

It makes sense, then, that the City of Miami is embracing NFTs in earnest after hosting one of the industry’s defining events. Miami city government is partnering with Time — one of Web3’s leading proponents in the world of traditional media — in addition to MasterCard and Salesforce, to launch a collection of “nearly 5,000 NFTs designed by 56 local Miami artists.” Announcement on the official website of the city.

And, if Miami and its partners are successful, the move could become a model for future cities to move toward Web3 capabilities with their own NFT offerings.

A digital and physical celebration

The project was created as a celebration of Miami’s vibrant culture and history. As such, a key component of this city-wide Web3 launch is MasterCard’s Inexpensive Miami program, which will provide these NFT holders with access to “unique 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 utility built into the project, the City of Miami hopes that IRL experiences for NFT holders will encourage the public to explore the city more on their own, driving more foot traffic — and potential revenue — into the city.

Due to close ties to the NFT community, including playing host each year to Art Basel Miami, one of the industry’s marquee events now, Miami is uniquely positioned to sponsor NFT collection launches, even in the face of a global, multi-industry-wide bear market.

“The City of Miami is at the forefront of the Web3 revolution and we will continue to leverage these new technologies to support our existing businesses as well as attract new ones, raise capital and enhance the experience of our citizens and those who travel to this great city,” Miami said in a news release. Mayor Francis X Suarez. “At the same time, we can use this innovative approach to support local artists and charities.” Of course, there’s no guarantee Miami’s dream of a Web3 oasis will come to fruition. But if it gets even halfway there, it could serve as a leader and model for other major cities in the US – and the world – to sponsor NFT launches and become part of a unique future. One where local artists have more ways to support themselves and all the things that make a city a great place to live find a new reason to celebrate.

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