American Express is dipping a toe into the world of digitally traded art with its newest perk for credit card customers.
The company is offering its cardholders a chance to purchase 14 unique digital images from a recent performance by the R&B singer SZA. Known as non-fungible tokens, those images will be stored on the Ethereum blockchain and can be traded and resold over time like other collectibles, such as baseball cards or physical art.
In launching the offering, Amex is anticipating that NFTs will become more mainstream and develop into a desirable perk for prospective customers. The collection with SZA, a five-time Grammy nominee, is part of a broader strategy to explore ways to use the Amex rewards platform to offer a wider variety of digital assets as perks, said Luke Gebb, the company’s head of digital labs.
American Express is expecting that consumers’ interest in the one-of-a-kind digital collectibles known as non-fungible tokens will be more than a passing fad.
Read Also
- We can announce a Mental Health Law that wants to agree with Health and the rest of the groups May 31, 2021
- Javier Milei created his own NFT: how much the asset is sold for in Ethereum Sep 7, 2021
- Cryptocurrency : Vitalik Buterin says the Eth2 challenge goes beyond technical issues Jun 3, 2021
- Eco revolution, startup FabricNano invents process and halves bioplastic costs Jul 7, 2021
- Cryptocurrency : Analyst Says Recovering $ 37,500 Is Bitcoin’s Crucial ‘Line In The Sand’ May 30, 2021
- Cryptocurrency : SushiSwap moves to Arbitrum second layer solution Jun 3, 2021
- CR7 and the cryptic message on Instagram. From France: “Ready to exchange with Icardi?” Jul 18, 2021
Bloomberg
Amex will participate in future NFT offerings, according to Gebb, who noted that there are currently around 750,000 unique users on Ethereum, the blockchain that currently hosts the majority of NFTs.