The NFT hype train waits for no man. And Visa (V) has decided to jump right on. The credit card giant has launched a program to help content creators grow their businesses through NFTs. The payment company is looking to select entrepreneurs working in art, music, fashion, and film who currently, or plan to, incorporate NFTs (non-fungible tokens) into their business models. The one-year immersion program, the Visa Creator Program, will bring together a global cohort of creators including artists, musicians, fashion designers, and filmmakers the ability to build their businesses with NFTs.
Cuy Sheffield, head of Crypto at Visa believes that the rapid rise of NFTs represents a new class of e-commerce. He feels that the idea of a small business is moving away from your conventional mom-and-pop store and one where entrepreneurs want to build digital-first e-commerce companies whilst tapping into new tech such as NFTs. The company will also provide opportunities for creators to engage with Visa’s clients and partners.
Why it matters
Visa has been making moves in the crypto space over the past year, testing the water with a Cryptopunk purchase on Ethereum last August for a cool $150k. It also created a crypto advisory practice as a way to help its clients. The credit card kings clearly want to make a splash in the space, one to watch for sure.
