Visa launches NFT program to support digital artists globally. When it comes to leading credit and payments firms, we can easily vouch for Visa. The ideology behind the NFT program is to help digital artists understand Non-Fungible Tokens( NFTs) more easily. Moreover, as per Visa, NFTs have the potential for creating a lot of opportunities for artists. This will also end the gap between art and its customers. The firm is going to sponsor counseling sessions on the importance of different cryptographic technologies.
Visa wants artists to know all about NFTs
Before Visa starts its NFT program, let us take a closer look at these. Non-Fungible Tokens or NFTs are a single or bunch of digital art. And these arts may include pictures, graphics, videos, gifs, and many more. Blockchain technology is behind creating these NFTs. Cryptocurrencies are also based on the same technology. Generally, we can see people buying or selling an NFT in the form of an auction. It is pretty similar to a standard auction for antiques and arts. People invest millions of US dollars for these and their name on the blockchain which gives the buyer a feel of having ownership over something. CryptoPunk #3100 is an NFT sold for $7.58million, and it is one of the costliest NFT out there.
Coming back to the program Visa has launched. The firm is partnering with MLB (Baseball) player Micah Johnson, who is now a digital artist, to show the benefits of NFT. Micah is a creator of the NFT Aku, and he is leveraging NFTs to give life to his creations. Johnson believes that NFT has a lot to offer. Moreover, Micah shares that he has a group/community of people sharing a common interest. And when the group supports and understands each other’s work, it simply goes beyond liking.
So the program we are talking about will include a group of people, including Johnson, to teach artists more about blockchain tools. The firm will also ensure that the artists gain adequate knowledge on how to use digital payment methods to earn from their work.
NFT has always been a Hot Topic
Among many companies, Visa is one of them to jump into NFT counsel this year. And the reason behind it could be to take advantage of the popularity of different instruments used in creating NFT. Visa also made a recent purchase of CryptoPunk NFT for about $165K in Ethereum. So, now after considering all of these, reports infer that Visa is taking NFT as a serious proposition to extend its market.
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