Visa plans to launch the NFT program focused on helping creators

Global financial services firm Visa is partnering with NFT artist Micah Johnson to establish a program that will allow creators to better understand the non-fungible token industry and use various public blockchain networks to develop and sell their digital works.

Visa to teach creators about NFTs

Visa announced the news via a press release on Wednesday (October 13, 2021). The company said it will provide a connection between creators and its payment partner network, to the benefit of the former, as it will broaden their audience reach and drive business growth.

The latest development comes nearly two months after Visa made its first NFT purchase. As reported in August, the financial services giant paid 49,5 ETH for a CryptoPunk NFT, which was valued at $ 160.000 at the time.

Meanwhile, in the recent announcement, the company said it would select a group of creators to form Visa's first class through an open application process. The US company will sponsor the group, as well as offer consulting services.

Visa partner Micah Johnson was a former Major League Baseball (MLB) player who retired in 2018 and became an NFT artist. Johnson is the creator of "Aku", a young African American boy with a large space helmet who dreams of becoming an astronaut.

The NFT character was first released in February 2021 and sold over $ 2 million worth tokens within 24 hours. Aku later became the first NFT to be optioned for TV and film.

Commenting on the collaboration with Visa, Johnson said:

“I am excited about the opportunity to work together and learn from a trusted brand like Visa. By working together, we want to provide creators with the resources they need to stay at the forefront of this revolution ”.

Other companies tap into the NFT sector

Visa has joined the list of companies that are taking advantage of the growing NFT industry. In September, video-sharing social networking platform TikTok announced the launch of its NFT collection, which will feature videos from influential creators such as Lil Nas X, Brittany Broski, and Rudy Willingham.

Leading US cryptocurrency exchange Coinbase recently revealed plans to create an NFT marketplace, with initial support for ERC-721 and ERC-1155 tokens. Another cryptocurrency exchange platform, FTX, previously launched its NFT marketplace called Solana NFT Marketplace for US-based customers.

To conclude, as the payment giants are taking an interest in cryptocurrencies, we wanted to ask you if you knew about the possibility of buying. Bitcoin with PayPal, if not, take a look at our article. Let us know in the comments section below what you think.