Mastercard NFT leader steps down and tokenises his resignation letter

According to several reports, the Mastercard NFT leader stepped down and tokenized his resignation letter. However, the company’s crypto plans are not affected by it at all. On Feb 2, 2023, Satvik Sethi, Mastercard NFT product lead, said in a series of tweets that he has resigned from that position, which he has held for the past year.

Sethi sells his resignation letter as an NFT

Last Tuesday, Sethi made multiple tweets about his resignation from the position of NFT product lead at Mastercard. Sethi added that he had experienced harassment and distress due to the company’s poor management system. He suggested that his salary was denied, his employment contract was overridden, and he was blocked from all online accounts.

Sethi also mentioned that he is minting and selling his resignation letter as NFT  priced at 0.023 ETH( around 38 USD), to support himself. He said he would airdrop additional networks to supporters in the upcoming months. Manifold, the app on which buyers can mint the token, reports say that around 40 tokens have been minted by the time of writing.

Mastercard NFT product lead Satvik Sethi also emphasised the extent of his role at the company. He said all the questions about WEB3, including those from partners, were directed to him. He added that the company would try to discredit or downplay his contribution. But, Mastercard global partners, clients and regional teams used to associate Mastercard x NFTs with him.

Mastercard NFT leader steps down and tokenises his resignation letter

Mastercard has not commented anything yet on Sethi’s resignation

As you know, Satvik Sethi, Mastercard NFT leader, stepped down and tokenised his resignation letter. However, the company has not yet commented on this topic. Presumably, it will continue to offer various non-fungible token features despite the absence of Sethi.

Last year in June, Mastercard partnered with multiple NFT marketplaces, including ImmutableX, Candy Digital and many more, to allow cardholders to buy NFTs without purchasing cryptocurrency as an intermediate step.

Mastercard has also worked with Polygon to launch an artist accelerator to help participants mint NFTS. The company also partnered with the crypto app Hi to offer customised debit cards featuring NFT avatars last year. Outside of NFTs, the company is also working to offer multiple crypto-related services such as trading, monitoring tools and rewards options.

What are your thoughts on the resignation of the Mastercard NFT product lead, Satvik Seith? Will this cause any harm to Mastercard’s cryptocurrency plans in future? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.

Also Read: JPMorgan says 72% of institutional investors plan to stay away from crypto in 2023.