• Satvik Sethi, former NFT product lead of Mastercard, resigned and minted an NFT of his resignation letter.
• Sethi alleged workplace mistreatment, citing pay cuts and harassment from the management.
• He asked his Twitter followers to support him by buying his resignation letter NFT.
Mastercard & Its Foray into NFTs
Payments tech firm Mastercard began its foray into NFTs sometime in 2021. In previous reports, CryptoDaily detailed how Mastercard has partnered with other crypto firms such as Coinbase and even went forth with the acquisition of digital asset analytics firm CipherTrace.
Former Product Lead Resigns & Mints Resignation Letter NFT
Satvik Sethi, former NFT product lead at Mastercard, recently made public allegations of workplace mistreatment as he resigned from the company. In a coup de grâce move, Sethi minted and sold his resignation letter as an NFT for 0.023 ETH with proceeds going toward survival expenses.
Allegations Against Mastercard
Sethi railed against the payments tech giant for allegedly mistreating him and downplaying his role in the company’s ambition to enter the crypto space. His claims included a 40% reduction in salary package coinciding with his decision to move from New York City to London; instances where he had to beg “across the hierarchy” just to receive his salary; and harassment due to “a series of mismanaged processes, miscommunication [and] internal inefficiency.”
After resigning from Mastercard, Sethi is set to lose his British work visa with a fallback option of working and being based in India for the foreseeable future.
Sethi’s decision to mint an NFT of his resignation letter is indicative of how far people are willing to go when faced with injustice in workplaces—even those that have explored cryptos through partnerships or acquisitions like Mastercard has done before this incident occurred.