On Wednesday, the leader in digital payments, Visa, unveiled a new program designed to assist creators, such as digital-first artist fashion designers, musicians, fashion stylists, and filmmakers, boost their small-scale enterprises by using non-fungible tokens (NFTs).
It is known as the ‘Visa Creator Program’` This initiative is designed to assist entrepreneurs of the next generation in learning about and utilizing NFTs.
“NFTs have the potential to become a powerful accelerator for the creator economy,” said Cuy Sheffield, Head of the Crypto, Visa.
“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.
Today, more than 50 million musicians, artists, and creators around the globe create content to earn a full and part-time revenue source.
With an estimated market worth of over 100 billion dollars, the creation economy is among the fastest-growing segments of small-scale businesses.
Visa stated that it wants to assist creators in understanding the technologies behind NFTs and be aware of the benefits it could bring to digital ownership and the monetization and ownership of creative assets and making it more accessible.
The creators selected will be part of an organized group program that aims to increase and strengthen their knowledge of cryptocurrency commerce and traditional payment.
The program will guide Visa’s team of crypto strategists and product managers, covering topics such as evaluating tradeoffs between intelligent contract networks, blockchain, and marketplaces for NFT.
It will also give a stipend for one time to help creators start the next phase of development.Visa enters the world of NFTs