You are here: Home » International » News » Companies
Business Standard

Visa enters the world of NFTs, to help digital-first creators

Called the 'Visa Creator Programme', the initiative will help next-generation entrepreneurs understand and use NFTs

Topics
Visa | Digital Payments | NFT

IANS  |  Mumbai 

Photo: Reuters
Photo: Reuters

leader on Wednesday launched a new programme to help creators such as digital-first artists, musicians, fashion designers, and filmmakers accelerate their small businesses through non-fungible tokens (NFTs). Called the ' Creator Programme', the initiative will help next-generation entrepreneurs understand and use NFTs.

"NFTs have the potential to become a powerful accelerator for the creator economy," said Cuy Sheffield, Head of the Crypto, .

"Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce," Sheffield added.

Currently, close to 50 million artists, musicians, and creators across the world publish content as a full- or part-time source of income.

With an estimated market size of more than $100 billion, the creator economy is one of the fastest-growing categories of small businesses.

Visa said that it aims to help creators navigate the technology behind NFTs and be able to better understand what value it can unlock for digital ownership and monetization of creative assets, making it more accessible.

Selected creators will join a cohort-driven programme designed to build and deepen their fluency in crypto commerce and traditional payments.

The programme will offer mentorship with Visa's team of crypto product and strategy leaders, to cover topics including evaluating tradeoffs between underlying blockchain networks, smart contracts, and marketplaces.

It will also provide one-time stipend to help creators kickstart the next phase of growth.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, March 30 2022. 19:29 IST
RECOMMENDED FOR YOU
.