Mastercard NFT product lead resigns

Mastercard: Over the past ten years, the cryptocurrency and NFT industries have expanded, luring several established businesses from numerous sectors.

Many have thus entered the field and created their own initiatives and tokens.

One of the numerous companies to enter the NFT market is Mastercard.

However, the product lead for NFTs at the large payment company recently resigned.

Unexpectedly, he is also offering his resignation letter for sale as an Ethereum NFT.


On Thursday, Satvik Sethi, the global payments and credit card company’s product lead for NFTs, rendered his resignation from the organization.

He announced his resignation on Twitter, citing abuse and emotional damage as the factors.

“For the past year, I served as the ‘NFT Product Lead,'” he wrote on a thread.

“I evangelized Web3 for Mastercard leadership & regional teams, as well as all our Fortune 500 clients & partners.”

“While I have a lot to be grateful for, when I moved from NYC to London because of visa issues, my salary was cut by 40% with my workload increasing 200%.”

“I had to work side jobs this past year to make ends meet, alongside all the things I was building and contributing in Web3.”

“At Mastercard, I was a victim of harassment & emotional distress caused by a series of mismanaged processes, communication, internal efficiency,” Sethi continued.

“There were months at a time when I wouldn’t receive my salary until I begged across the hierarchy for it, among many other issues.”

“Not just that, I was informed by HR despite my contract that I would have to serve a 3 month notice period so I wouldn’t resign.”

“Yet, when I resigned I was told I’ll only receive 1 month pay and no benefits, & pressured into accepting it quickly or threatened to lose my bonus.”

“When I tried to fight back and informed them that I had records of my conversations, they locked and disabled all my accounts, and with that preventing me from accessing ideas I spent months designing and not even giving me a chance to say goodbye to my team, clients, & peers.”

“They might try to discredit me or downplay my contributions. But the fact is – globally our partners, clients, and regional teams associate Mastercard x NFTs with me,” Sethi added.

“When anyone across our portfolio has a question on Web3 it would be directed to me, from the CMO to an analyst.”

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Blockchain ventures

Mastercard has made an effort to enter the blockchain market over the past year.

The international payments and credit card firm recently stated that it has hired Polygon in an effort to introduce the Artist Accelerator at the Consumer Electronics Show in Las Vegas, Nevada.

It seeks to give artists and producers the resources they need to enter the Web3 market.

They may then start minting NFTs and establishing their digital presence.

An NFT is born

Satvik Sethi continued to use his expertise in Web3 after he resigned.

He made an Ethereum NFT out of the resignation.

The letter began making the rounds online under the name “New Beginnings.”

It has been minted 69 times as of the time of this writing.

“If you want to support me, you can mint my resignation for 0.023 ETH. A piece of my personal history from the year I leaped,” Sethi tweeted.

“Art airdrop for holders in the future as thanks.”

Sethi’s journey

In 2020, Sethi first started working at Mastercard.

He joined the team developing the worldwide bill pay product as an analyst.

Later, Sethi relocated to London where he worked as the product lead for NFTs.

If he left Mastercard, he would forfeit his VISA and be forced to work from India until he could arrange for immigration.

He intends to start his own business from scratch rather than work for another company, according to a LinkedIn post.