Visa Announces NFT Creation Incentive Program, Says Digital Art is a New Form of E-Commerce

Visa looks at the content creation economy made up of some 50 million artists, musicians and other creators, such as filmmakers and fashion designers, who distribute their work around the world as a full- or part-time source of income, Visa said in the news. In a press release, Credit Card announced a program related to the creation of non-fungible tokens (NFTs), the “Visa Creator Program,” designed to help those segments of content producers that prioritize digital technology.

The company highlighted the creator economy as one of the fastest-growing small business categories, with an estimated market size of more than $100 billion, and said it hopes to help creators navigate support for NFTs through the Visa Creator program and better understand the technology’s role in digital ownership and Meaning in terms of “more affordable monetization of creative assets”.

NFTs have the potential to be powerful accelerators for the creative economy. We are researching the NFT ecosystem and its potential impact on the future of commerce, retail and social media. Through the Visa Creator program, we hope to help a new generation of small and micro businesses explore the new medium of digital commerce,” said Cuy Sheffield, head of Visa Crypto.

According to the company, each cycle of the Visa Creator program will support a subset of entrepreneurs looking to deepen their understanding of NFTs related to five specific program areas. One is focused on guidance and product, and is working with Visa’s crypto product and strategy lead team to assess trade-offs among underlying blockchain networks, smart contracts and NFT markets, among other issues. Another area, community building, is sharing ideas and solving problems with a group of artists at various stages of the NFT journey.

The other three areas are: access to thought leaders, researchers and leading thinkers in digital commerce, web3, cryptography and payments; access to Visa customers and partners, an opportunity to engage with companies in the Visa customer and partner network; Compensation, a one-time grant to help creators enter a new chapter in their careers.

In late February, Visa announced another incentive-driven initiative, in this case aimed at expanding credit and financing options for Latin American SMEs, highlighting the growing gap between traditional payment providers and the blockchain industry. synergy. As reported by Cointelegraph, in partnership with enterprise payments platform Tribal Credit.

read more:

Follow us on social networks

Follow our profile Instagram not telegraph Receive first-hand news!

Leave a Comment

Your email address will not be published.