Visa to Assist Creators With NFT-Commerce Program

Visa to Assist Creators With NFT-Commerce Program
  • Visa has launched a creator program to help artists grow their businesses with NFTs.
  • Visa had shown interest in crypto space way back August last year after it purchased CryptoPunk #7610.
  • Visa’s head of crypto said Visa will soon develop NFT commerce products with the help of the creator program.

Last October, Visa first announced that they will be launching a creator program to help artists grow their businesses with non-fungible tokens (NFTs). Now, Visa has officially launched the program.

The creators, including artists, musicians, fashion designers and filmmakers, will be taught in groups. The creator program is said to run for a year.

Cuy Sheffield, Visa’s head of crypto, said in an interview by The Block: 

“NFTs can take many forms as creators become more invested in this medium, and we want to be positioned to support and impact creators using NFTs as a bridge to new audiences, products and services.” 

The company desires to acknowledge the opportunities and struggles of creators. It also aims to explore the role NFTs could play in monetizing their work, Sheffield added. He also said that Visa wanted to play a big part in NFT commerce by helping customers buy NFTs. Moreover, the company wants to ease the acceptance of payments as they do for traditional goods in e-commerce. Sheffield said it’s just the beginning, as they’ve been developing new products and solutions for their clients.

Last August 2021, Visa shared on a tweet their purchase of CryptoPunk #7610. The company added that they’ve built a collection of historic commerce artifacts. They welcomed their new additional collection as Visa said we’re entering a new “era of NFT-commerce.”

One mentor that Visa will add to its team is former professional baseball player turned NFT artist Micah Johnson. Johnson, who recently created an NFT collection called Aku, aims to provide mentorship to aspiring artists through Visa’s creator program.

Visa has not yet decided on how many creators they will train exactly in this program. Yet, Sheffield said the company would want to keep a small group to speed up community-building and support technical mentorship.

To join their creator program, interested aspiring artists should fill out a questionnaire form. Aside from mentorship, Visa will also provide a one-time allowance to help creators encourage their next growth phase. However, Sheffield declined to comment on how big that allowance is.

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