Global payment and financial giant Visa will be launching a Non-Fungible token program to support and help onboard artists into the crypto industry.
In doing this, Visa revealed it’ll be working together in partnership with Michal Johnson, a former Baseball player who has turned into the NFT space.
Through the program, Visa and Michal Johnson will support artists who want to use NFTs to sell their art.
After joining the crypto space last year, Michal Johnson the animated black astronaut character NFT, Aku which sold for over $2 million in 24 hours.
Visa said it’ll through an application process select a group of art creators and take them through the blockchain and cryptocurrency industry, helping them to learn.
Speaking on the program, Visa’s Head of Crypto Cuy Sheffield said “We believe that we are at the beginning of a digital renaissance in the world of art and content creation.”
He continued saying “New technologies emerging in the crypto ecosystem, like NFTs, have the potential to lower the barrier to entry for digital creators across the world to build their own small businesses.”
“We want to arm creators with the resources they need to stay at the forefront of this revolution”, Michal said.
In August, Visa bought it’s first NFT, CryptoPunk.
Sheffield explained Non-Fungible tokens (NFTs) as an option of representing “ownership of a digital good, like an image, video, or piece of text.”
Sheffield explain why Visa bought the NFT. He said “We think NFTs will play an important role in the future of retail, social media, entertainment, and commerce. To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT. Having worked with Anchorage Digital to complete this process, we’re better positioned to help our partners navigate the process.”
Visa and Michal Johnson will work together to onboard artists into th3 NFT space.
What do you think of this story? Share your comments below.
[…] this session of Inside Blockchain Show with a focus on NFTs and Metaverse on the […]