The program will facilitate artists to enhance their knowledge and presence in the NFT ecosystem and help them grow their businesses through NFTs.
International financial services provider VISA has launched a program to help artists expand their small businesses through non-fungible tokens (NFTs). According to a press release, the initiative christened “VISA Creator Program” will aid digital-first artists, musicians, fashion designers, and filmmakers.
As per the details, the firm will select a group of emerging entrepreneurs for each program cycle. Visa will support the entrepreneurs to help them enhance their knowledge and presence in the NFT ecosystem. Cuy Sheffield, the Head of Crypto at VISA, said:
“NFTs have the potential to become a powerful accelerator for the creator economy. We’ve been studying the NFT ecosystem and its potential impacts on the future of commerce, retail and social media […]. Through the VISA Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”
Offer the select group of artists technical mentorship
According to an announcement, with an estimated market size of more than $100 billion, the world’s creator economy is one of the fastest-growing small business categories. VISA acknowledged that over 50 million artists, musicians, and creators publish content as a full- or part-time source of income. The firm announced that it would offer the select group of artists technical mentorship, access to researchers and specialists in cryptography, Web3, and online commerce, and opportunities to interact with Visa’s client and partner firms.
VISA joined the NFT fray in August 2021 following its $150,000 purchase of CryptoPunk. Since then, the firm has introduced its Universal Payment Channel interoperability project as well as crypto-enabled cards. Accordingly, the Visa Creator Program confirms the company’s commitment to the Credit card giant. Sheffield explained at that time:
“An NFT symbolizes the excitement and opportunity of this particular cultural moment. We’re a company steeped in the history of commerce and payments — but with our eyes on the future […] with our CryptoPunk purchase; we’re jumping in feet first. This is just the beginning of our work in this space,”
Offering better access to digital resources, including finance and technical assistance
The creation of the creator program is part of Visa’s aim to assist small and micro enterprises in the next years by offering better access to digital resources, including finance and technical assistance. Micah Johnson, former professional athlete, the artist behind AKU, and one of the first participants to work with the Visa Creator Program, said:
“In the early days of my NFT career, I relied on a community of NFT experts and advocates to ground me in this new world […] I’m excited to work with Visa in providing that same type of mentorship to emerging artists setting out on their NFT journey.”
Tom is a freelance writer with over 10-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.