Visa considers NFTs as the new e-commerce and launches a program – LeBigData.fr

Visa launches its own program to support NFT creators. The firm’s goal is to help small businesses exploit this technology, which it sees as a revolutionary new form of e-commerce…

NFTs are becoming increasingly important in the economy, and the value of this market is increasing at an impressive rate. Today, the credit card giant, Visaannounces the launch of a program for creators of non-fungible tokens.

The objective of this program is to help small businesses enter the digital economye. According to Cuy Sheffield, head of Visa’s crypto arm, ” we have seen the rapid growth of the NFT ecosystem over the past year, and believe that NFTs represent a new form of e-commerce “.

According to him, the concept of small business is evolving and no longer limited to small family businesses. From now on, this category also includes creators and entrepreneurs wishing to create digital businesses and exploit new tools such as NFTs.

Visa Creator Program: a one-year program to bring together NFT creators

The Visa Creator Program will run for one year, and will bring together creators from all over the world. From artists, musicians, fashion designers and filmmakers will have the opportunity to grow their businesses through NFTs.

The firm has not yet defined a limit to the number of creators who can participate in this first edition. All members will have access to the Visa customer network and a large network of mentors.

According to Sheffield, big brands ask every day how they can get involved in this promising project. In Visa’s view, one of the strengths of NFTs is to lower the barriers to digital entrepreneurship and e-commerce.

In effect, the traditional sale of physical goods involves many logistical constraints. This can be a real challenge for small businesses and individuals, who find it difficult to compete with industry giants. On the contrary, NFTs allow any creative and talented person to produce a digital good.

Micah Johnson aka Aku: one of the first participants in the program

One of the first participants in the Visa Creator program is Micah Johnson, former Major League Baseball player now an artist under the pseudonym Aku. In October 2021, Visa announced a partnership with this artist, but did not reveal that he was involved in the program.

Aku’s NFTs are based on a character he created himselfafter hearing his nephew ask” if astronauts can be black “. His NFT collection consists of 10 images of black astronauts posing with different accessories. Prices range from $1790 to $37,000.

First, Johnson says he’s seen how NFTs can help artists get started. While he has started his project in his garage with just one idea, he managed to scale it into a global company. Without NFTs, he feels he could never have been in this position.

Visa wants to simplify the purchase of NFT and crypto

This is not the first time that Visa has taken an interest in cryptocurrencies. For 12 months, the firm has been one of the main investors in this emerging sector. In particular, she acquired the NFT CryptoPunk collection in August 2021and promised to buy other collections in the future.

In parallel, Visa has created its own crypto team. In December 2021, it launched a consulting service to help its customers and partners get started in this field.

According to Sheffield, the company is confident that NFTs are a tool capable of reshaping commerce and create new opportunities. However, he is aware that companies face many challenges. In particular, they must choose the best blockchains, reach customers, and manage to distinguish themselves from the competition. One of the objectives of Visa’s program is to learn from creators while imparting knowledge to them.

Going forward, Visa hopes to integrate with crypto technologies to keep up with the future of commerce. The purpose of the firm is that all NFT marketplaces accept Visa cardsand to make buying NFT as easy as any other online purchase.

Indeed, at present, the experience of investing in NFT can be a bit complicated. Multiple steps are required to go to an exchange, buy cryptocurrencies and transfer them to another wallet. This is what puts off many consumers.

Along with his program, Visa also wants to make NFTs more accessible. The firm is working on various initiatives, but does not specify for the moment the launch date of future products or services dedicated to NFTs.

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Visa considers NFTs as the new e-commerce and launches a program – LeBigData.fr


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