Credit card giant Visa targets NFT market for creatives | 04/14/22

The credit card giant is launching an artist program, with which Visa wants to promote small business owners in the field of NFTs.

• Estimated market volume of creative industries: more than 100 million US dollars
• Digital support for small business owners
• Small businesses as the next generation of businesses

Visa has been increasingly relying on NTFs for some time and sees itself as a “bridge builder” between the traditional financial market and cryptocurrencies such as Bitcoin & Co. The world’s leading digital payments provider wants to facilitate market access for traditional investors. crypto market and expand partnerships in the traditional banking system and with fintechs. Today, the credit card giant has implemented a crypto program for artists and features it on its homepage. He estimates the creative industries market share at over US$100 billion. Around 50 million artists of all genres are currently releasing, Visa estimates.

NFT for small business owners

The particularity of the creative industries is the high proportion of small and micro-entrepreneurs. Visa wants to promote this with its “Visa Creator Program” and help them advance in the digital market. Non-fungible tokens, or NFTs for short, can help owners of small rights-holding businesses in the arts, music, film, and fashion sectors accelerate their operations and massively expand their reach.
“NFTs have the potential to become a powerful accelerator for the creative industries,” said Cuy Sheffield, chief crypto officer at Visa. “With the Visa Creator Program, we want to help this new generation of small and micro businesses embrace new media for digital commerce.” Major companies and brands have also inquired about investment opportunities. In addition to financial resources, Visa wants to provide one-year fellows with access to knowledge about technology and platforms, as well as contact with customers and thought leaders, regardless of the number of NFTs. (already successful) that artists have already put on the market. .

Creators love @Micah_Johnson3 are at the forefront of NFTs. His work with Visa is an exciting introduction to the Visa Creator Program, a global opportunity for creators and digital artists looking to deepen their understanding of NFT commerce. Learn more: https://t.co/oAQknwPdB4 pic.twitter.com/E6B9QVTyDl

-Visa (@Visa) March 30, 2022

Astronauts 3.0

The program’s first high-profile artist is former baseball star Micah Johnson with his soon-to-launch Aku World. The countdown has started for April 22 at noon (CET). As he explains in Visa’s promotional video, the starting point for Johnson’s NFT collection is his nephew’s question of whether astronauts can also be black. With Aku, Johnson wants to go beyond asking a child to show what is possible and implement his ideas on Web3 with Visa as a strong partner.

Editing finanzen.at