What Happened: Financial payments giant American Express Company AXP has teamed up with five-time Grammy nominee SZA to offer cardholders the option to purchase 14 digital images as Non Fungible Tokens (NFTs).
SZA’s first-ever NFT collection features behind-the-scenes moments from her Amex UNSTAGED appearance, and each digital collectible is a one-of-a-kind piece that can be purchased exclusively with an American Express credit card.
According to a report from American Banker, Amex anticipates that NFTs will soon “become more mainstream” and will evolve into a desirable perk for its 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 Amex’s Head of Digital Labs Luke Gebb.
Read also: Twitter Drops Collection Of 140 Limited Edition NFTs On Rarible
Each NFT will sell for a fixed price of $100, and Amex will not receive any of the proceeds from the sale.
Cryptocurrency will also not be accepted as a means of payment, despite the fact that the NFTs will be stored on the Ethereum ETH/USD blockchain.
Price Action: American Express stock was trading at $172, up 0.47% at press time.
Meanwhile, in crypto markets, the leading cryptocurrency Bitcoin BTC/USD lost 1.06% overnight and was trading at $33,387 at press time.
Ethereum saw a 1.07% fall over the past 24-hours and was trading at $2,102 at the time of writing.
Photo: Blair Caldwell via Wikipedia
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