Visa Inc, a financial services company, has launched a non-fungible token (NFT) creator program which aims to bring small businesses into the digital economy. Selected creators will be able to participate in a one-year NFT immersion program.
Through Visa’s program, selected small business owners in fields like music, fashion and film will be supported by the payments giant in expanding their operations through the use of NFTs.
“NFTs have the potential to become a powerful accelerator for the creator economy.” – Cuy Sheffield, Visa’s head for cryptocurrency
Sheffield noted that through the Visa Creator Program, Visa wants to “help this new breed of small and micro businesses tap into new mediums for digital commerce.”
“We’ve seen rapid growth in the NFT ecosystem over the past year… We think NFTs represent a new form of e-commerce,” Sheffield told TechCrunch.
Through the one-year immersion program, creators will be able to learn the ability to build their businesses with NFTs from a global cohort of creators including artists, musicians, fashion designers and filmmakers
Further, the program is focused on supporting creators in five key areas: technical and product mentorship, community building, access to thought leaders, exposure to Visa’s clients and partners, and a stipend which will help creators kick-start the next phase of growth.
According to the data from Influencer Marketing Hubhe, this “creator economy” has an estimated market size of over $100 billion. Sheffield, however, assured that Visa will not receive any direct financial incentive but instead, they can use the program as a way to learn how it can enhance NFT commerce and help their clients navigate the emerging technology.
Micah Johnson, former Major League Baseball second baseman, is one of the first Creator Program participants who launched his NFT character, Aku, last year.
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