American Express has announced an exclusive NFT sale as a type of bonus for its credit card users. The NFTs are for sale with each piece of work selling for $100.
American Express (Amex) has announced the addition of a new credit card benefit. The bonus is the opportunity to purchase 14 digital photographs from SZA’s live performance.
The photographs will be sold on the Ethereum network as non-fungible tokens that may be resold or exchanged exactly like any actual asset. Amex’s move demonstrates that they believe NFTs are desirable and want to assist them in becoming more widespread.
This NFT sale is part of American Express’s aim to experiment with different ways for customers to earn and get rewards. According to Luke Gebb, head of Amex’s digital laboratories, one of these areas of investigation is digital assets as benefits for using your card.
Gebb wants to use Ethereum’s almost one million unique users to see if it’s feasible to offer digital assets as incentives.
“Clearly, that’s a tech-savvy demographic right now,” Gebb told American Banker, “but it’s becoming more mainstream by the minute.” “We’re planning for a world in which it becomes more widespread, but we’re still early in the adoption cycle.”
SZA’s live act at a company-sponsored event in June will be featured in the American Express NFT sale, which will include 14 unique photos. After the event, attendees were able to purchase 10 of the 14 NFTs, with the remaining four going on sale on July 12.
Fanaply, a portal focusing on digital assets in the sports, music, and entertainment industries, is hosting the NFT collection. Fanaply was picked because of its simple-to-understand platform, which is ideal for beginner NFT purchasers, according to Brandy Sanders, Vice President of global entertainment alliances and experience at Amex.
“We wanted to truly develop something where if you aren’t particularly comfortable in the NFT area right now, but you love SZA, we have something for you,” Sanders said.
The collection is timed to coincide with SZA’s presentation at Amex UNSTAGED and her debut album, CTRL, which is celebrating its four-year anniversary.
Now, the five-time Grammy nominee is bringing her favourite moments from the UNSTAGED event to the NFT world, including behind-the-scenes material not seen on the live broadcast.
Anyone with an American Express Card will be able to purchase each NFT for $100. Although a lot of previous releases have sold out, the unreleased versions have yet to be released as of this writing.