Payment giant Visa has announced the availability of Non-fungible tokens(NFTs) for small business owners to expand their performances. Visa revealed a Creator Program where chosen entrepreneurs in music, fashion, and film professions will get assistance from the program.
According to Cuy Sheffield, Visa’s head of cryptocurrency, NFTs can become a powerful accelerator for the creator economy. Also, these new type of small firms will have the access to new methods for digital commerce through the Program.
Furthermore, The payment giant Visa revealed that the Creator Program is a one-year immersion in the NFTs space. Assistance is made available in areas of technology and product mentorship, community formation, permit to thought managers, openness to Visa clients and collaborators, and a one-time salary.
Also, The creator economy has a calculated market cap of over $100 billion according to reports. Micah Johnson, former Major League Baseball, second baseman is one of the early birds of Creator Program participants. In 2021, Micah Johnson surprised many when he launched his NFT avatar Aku.
The payment giant Visa Contributions towards digital
Visa has made a concerted push into the crypto space, taking a platform-agnostic stance as it outlines potential opportunities, forges relationships with payment processors, and builds a network to facilitate digital currency payments.
Before now, The Payment giant Visa has contributed heavily towards the advancement of Cryptocurrency and digital assets. Late Last year, Visa inaugurated an international cryptocurrency advisory system to offer advice to financial organizations. The initiative aims to support organizations to build their digital assets business that will help the market grow.
According to reports, the advisory team aims to support Visa’s consulting and analytics department to educate organizations. This will help develop their crypto policy and implementation. More so, Visa head of Cryptocurrency, Cuy Sheffield revealed that Visa is capable to familiarize financial institutions with the Cryptocurrency industry.
Sheffield believes that it has become mandatory for every financial institution to have a Cryptocurrency department. He attested that the industry is evolving daily, thus proving to be the future of finance. Therefore, Financial institutions must be ready to embrace the industry. He added that the only way they can do that is to create a department that will oversee cryptocurrency.
However, Visa embracement of crypto has suffered a huge blow after crypto product lead Daniel Mottice left the organization. He made the revelation on Twitter some days ago. The effect of the decision will surely have a telling impact on the organization’s advancement toward cryptocurrency.