The NFT Creator Economy

Around 50 million people worldwide are dedicated to creating and publishing this type of content as a full or part-time source of income. The total market size for the NFT creator economy is over $100 billion!

A few days ago, the official MetaMask Twitter account announced that iPhone users will finally be able to start buying cryptocurrency almost directly. In other words, gadget holders will be able to purchase digital assets through credit and debit cards linked to their Apple Pay accounts. Improving and simplifying the process of buying cryptocurrencies for customers is one of the brakes that all wallets must solve.

Facilitating understanding and access to NFTs to the general public is one of the major challenges, pedagogy, education must therefore not be forgotten in favor of investment in the next startups. Non-fungible tokens are an evolution of the relatively simple concept of cryptocurrencies. For example, modern financial systems consist of sophisticated trading and lending systems for different types of assets, ranging from real estate to loan contracts to works of art. By enabling digital representations of physical assets, NFTs are a step forward in reinventing this infrastructure. Certainly, the idea of ​​digital representations of physical assets is not new, nor is the use of unique identification. However, when these concepts are combined with the benefits of a tamper-proof smart contract blockchain, they become a powerful force for change.

Converting a physical asset to a digital asset streamlines processes and cuts out the middleman. NFTs representing digital or physical artwork on a blockchain remove the need for agents and allow artists to connect directly with their audiences. They can also improve business processes. For example, an NFT for a bottle of wine will facilitate interaction with different actors in a supply chain and help track its provenance, production and sale throughout the process. In fact, the possibilities are endless, only the creativity of humans will be a hindrance 🙂

Economy of creators

NFTs have the potential to become a powerful accelerator for the creator economy. This allows content creators to own the ownership rights to what they create, allowing them to profit from it in a variety of ways. This democratization of content creators and consumers extends to digital art, physical pieces, music, video, and more. There is a massive influx of new traders, investors, and collectors, mostly from Millennials and Gen Z cohorts who want to push the digitalization trend.

Visa, which wishes to invest more and more in this ecosystem, has just created a program “VisaCreator” of one year for young entrepreneurs and artists who wish to embark on the adventure of creating works of art in virtual space. The company seeks to primarily energize small businesses through the development of NFTs. To do this, Visa will select groups of creators who want to deepen their knowledge of the crypto industry. Before launching the program, the payment company collaborated with Micah Johnson, a former professional athlete and creator of NFT behind Aku World. It is a crypto-native, multicultural, media-friendly, family-friendly entertainment company aiming to inspire the next generation of dreamers through performance and storytelling.

The five areas the program will focus on include technical and crypto mentorship from Visa with support from specialists in blockchain networks, NFT markets and smart contracts. Likewise, the development of ties in the community and access to intellectual leaders to strengthen and perfect digital creation. As well as in the areas of exposure to Visa customers and partners and in the remunerative part, which consists of a one-time payment to help creators grow and develop their production unit.

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The NFT Creator Economy

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