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MasterCard NFT chief quits over pay; mints his resignation as NFT

Satvik Sethi, NFT product head at Mastercard, resigned after complaining that the platform had ignored him. Later, he decided to mint his letter of resignation as an NFT.

India TV Business Desk Edited By: India TV Business Desk New Delhi Published on: February 04, 2023 14:25 IST
Image Source : MASTERCARD MasterCard NFT chief quits over pay

After criticizing the company's inefficiencies, Satvik Sethi, head of the Mastercard NFT division, made the decision to submit his resignation. In a Twitter thread, Sethi gave an explanation for his decision to leave the firm, stating that, while leaving "wasn't easy," he had long felt ignored by it and wanted to devote all of his time to Web3 and making art.

After deciding to leave the multinational payments organization as an NFT head, he chose to mint his letter of resignation as an open-edition NFT using the digital collectables protocol Manifold, stating that all of the money raised will "go to survival." The price per unit for the "New Beginnings" project is 0.023 ETH, or roughly $38. Twelve NFTs have been produced as of yet.

Sethi stated that he was ignored by the corporation and that he had to plead for his pay. He asserted that Mastercard's internal inefficiencies and a number of poorly handled processes had subjected him to harassment and emotional distress.

The organization allegedly informed Sethi that he would be paid for a three-month notice period if he quit. However, in contrast, when he revealed his decision to leave, he was only given a one-month salary. He also accused MasterCard of blocking his accounts.

According to Sethi, if he leaves Mastercard, he will lose his work visa and have to work from India until he can figure out a way to get into the country legally. That’s why the ex-product lead has returned to India and will now concentrate on Joincircle, a social networking platform built on the blockchain.


1- What is the price of Satvik Sethi's NFT?
Through the digital collectibles protocol Manifold, Satvik Sethi generated his letter of resignation as an open-edition NFT. The cost of the "New Beginnings" project is 0.023% ETH, or around $38 per unit.

2- What is Satvik Sethi doing currently?
Sethi is currently focusing on creating his own Web3 social networking and community-building platform, joincircle.

ALSO READ: Mastercard replaces Paytm to acquire title sponsorship rights for all BCCI international and domestic matches

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