Visa will provide support to the entrepreneurs to help them enhance their knowledge and presence in the NFT ecosystem
Visa, a NYSE-listed international financial services firm, has announced the establishment of a program to assist innovators in expanding their small companies using non-fungible tokens (NFTs). The newly announced ‘Visa Creator Program’ will support digital-first artists, singers, fashion designers, and filmmakers. According to the financial services provider’s specifics, each cycle of the program will choose a group of budding entrepreneurs. Visa will assist entrepreneurs improve their expertise and visibility in the NFT ecosystem by providing support.
“NFTs have the potential to become a powerful accelerator for the creator economy,” said Cuy Sheffield, Head of the Crypto, Visa in a press release. “We’ve been studying the NFT ecosystem and its potential impacts on the future of commerce, retail and social media. Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”
The creative economy, which this move is aimed to focus on, is recognized as the fastest-growing category of small company with over 50 million individuals, according to Influencer Marketing Hub, and is worth an estimated $100 billion (approximately Rs. 7,56,915 crore). Visa said it will choose a group of entrepreneurs for the creator program and give them with technical mentorship, as well as access to researchers and specialists in cryptography, Web3, and online commerce, as well as opportunities to interact with Visa’s client and partner firms.
Following its $150,000 purchase of a CryptoPunk in August 2021, the introduction of its Universal Payment Channel interoperability project, and the success of its crypto-enabled cards, the Visa Creator Program confirms the company’s commitment to the Credit card giant. The creation of the creator program is part of Visa’s aim to assist small and micro enterprises in the next years by offering better access to digital resources, including finance and technical assistance.
Visa’s Creator Program is part of the company’s continuous efforts to help small and micro companies get more access to the digital economy. Visa is focused on digitally empowering small and micro enterprises through community-based programs like the Visa Creator Program and She’s Next, which provide chances to access capital, resources, and experience. Visa is delighted to help the next generation of entrepreneurs in developing their businesses and getting paid as the definition of ‘small company’ continues to expand and adapt, from mom-and-pop stores to content producers and gig economy employees.