Visa Launches Program for NFT Developers

Global payments giant Visa announced the preparation of a program for NFT-focused content creators in October last year. Now it has been announced that this program has been officially launched.

Visa aims to help developers develop their projects related to NFTs under the program. The program, which is expected to last for one year, will provide training on NFTs to content creators, including artists, musicians, fashion designers and filmmakers.

The program will mentor Visa's team of crypto product and strategy leaders, covering topics such as evaluating interactions between core Blockchain networks, smart contracts, and NFT markets.

It's estimated that close to 50 million artists, musicians, and creators worldwide currently publish content as a full-time or part-time source of income. With an estimated market size of over $100 billion, the creative economy is seen as one of the fastest growing small business categories.

Visa says it aims to help creators leverage NFTs and make this industry more accessible by better understanding what they need to focus on to monetize digital ownership and creative assets.

Visa crypto head Cuy Sheffield said that as content creators increase their investments in this sector, NFTs can have many different uses and they want to support people who want to use NFTs as a bridge to new audiences, products and services.

Saying that this program is just the beginning, Cuy Sheffield emphasized that they are constantly developing new products and solutions, including content creators and platforms for their customers.

Visa first entered the NFT industry in August 2021 by purchasing an NFT from the CryptoPunk collection. After the acquisition, Visa's crypto head spoke about the company's intentions to play an important role in the NFT industry. Visa aims to enable its customers to easily trade NFTs, just like traditional products in e-commerce.

The global payments giant developed its creator program with NFT artist Micah Johnson, a retired professional baseball player. Through Visa's creative program, Johnson aims to mentor emerging artists on their own NFT journeys.

In addition to mentoring, Visa will make a one-time payment to help creators improve themselves. Visa crypto head Cuy Sheffield did not disclose the amount of this payment.

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