Visa starts program for NFT-focused entrepreneurs

Visa starts program for NFT-focused entrepreneurs

VISA has launched a program to help creators to expand their business through NFTS.

The payment company is looking for entrepreneurs from the areas of art, music, fashion and film that already integrate or plan NFTs into their business models.

Accordingly, around 50 million artists, musicians and other content publish as an Signal fire . The Creator Economy has an estimated market size of more than $ 100 billion, according to a report by HUB for Influencer marketing found.

"We examined the NFT ecosystem and its potential effects on the future of trade, retail and social media," said Cuy Sheffield, Head of Crypto at Visa. "With the Visa Creator Program we would like to help this new kind of small and small company to open up new media for digital trade."

VISA presented his idea for the Creator program for the first time in October. At that time, the company found its partnership with Micah Johnson, a former professional baseball player who founded an entertainment and media company Aku .

"In the early days of my NFT career, I rely on a community of NFT experts and advocates to anchor myself in the new world," said Johnson in a statement. "I look forward to working with Visa to offer up-to-see artists who go on their NFT trip to offer the same type of mentoring."

The program aims to help selected developers "deepen their knowledge of crypto trade and in traditional payments," said the company.

The developer cohort will "be small enough to facilitate the development of communities and support technical mentoring," a visa spokesman told Blockworks. Those with "inspiring mission -based stories" are selected, the representative added.

A scholarship that Visa did not want to specify in more detail is also offered to the developers of the program.

The team of crypto product and strategy managers of Visa will treat topics such as the evaluation of compromises between the underlying blockchain networks, smart contracts and NFT marketplaces.

The company will also offer developers opportunities to get in touch with customers and partners from Visa.

The program starts after Visa bought a cryptop radio in Ethereum for $ 150,000 in August. At the time, Sheffield noticed that the company bought it in order to “get an understanding of the infrastructure requirements for a global brand to buy, save and use an NFT".

VISA recently founded a crypto consulting practice to help its customers and partners to evaluate and pursue potential opportunities in this area.

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The Post-Visa start program for NFT-focused entrepreneurs is not financial advice.