VISA Launches NFT Program to Support Artist

Following the rounds of giant steps in the crypto space, VISA- an International bank card operator is partnering with Former Major League Baseball player Micha Johnson and prolific Aku creator. Their partnership encourages a program that supports artists who want to create and use NFT to sell their work. This announcement was made official on their website and social media platforms. 

 Following a press release, the company said;

      “We’re excited about the future of NFT commerce and what this technology can offer to small and micro business owners in the creator economy”.

Also, the Head of Visa Crypto Cuy Sheffield wrote on Twitter sharing that “We believe that we are at the beginning of a digital renaissance in the world of art and content creation.” 

NFT is bridging the gap of impossibilities and consequently creating vast opportunities for several businesses across different industries and sectors. Luckily, certain businesses are taking the bull by its horn and jumping in on the numerous opportunities that Non Fungible Tokens offer. With the NFT sector growing rapidly, its implementation is beginning to become a necessity and this has gone to clear doubts on what areas NFTs can be utilised.

According to a report by the data analysis company DappRadar, the NFT market passed $10 billion in sales volume in the third quarter of 2021. It stated, “The NFT space generated $10.67 billion in trading volume during Q3, an increase of 704% from the previous quarter. Ethereum and Ronin accounted for 77.73% and 19.53% respectively from the record numbers.”

Benefits of VISA NFT Program 

Visa has unarguably done remarkable job overtime in providing consistent growth in its services and giving its users a wonderful experience. Although Visa officially entered the NFT space with their purchase of a CryptoPunk back in August, the finance giant seems to be keen on increasing their involvement in the burgeoning space.

In response to the announcement, Micha Johnson said;

        “I am delighted to have the opportunity to work and learn from a trusted brand like Visa. Together, we want to give NFT creators the resources they need to stay at the forefront of this revolution.” He believes that Visa project’s mission is very important for the development of the NFT industry. 

VISA and Its NFT Partners

Artist Johnson Micha is the former second baseman and outfielder for the White Sox, Dodgers, Braves and Rays.

Aku was released in February 2021 on Nifty Gateway and sold more than US$2 million in NFT tokens in less than 24 hours. “Aku Chapters” NFTs currently have a floor price of 0.54 ETH (about US$1,960) on OpenSea, and the highest last sale of 4.25 ETH (US$15,427).

Johnson Micah said;

       “NFTs unlocked an opportunity for me to build a community of people interested in supporting my work – in a way that goes way beyond simply liking or sharing,” 

          “With guidance from the early crypto community, I’ve been able to build a small business around my crypto-native character, Aku, that can grow into a global media company rooted in driving value back to that same community that evangelised my work.”

The program chooses to create a connection between NFT creators. The company intends to sponsor a small group of creators and provide consultant services to facilitate better payment infrastructure. They stated it would be done using an open application process, where they will select a group of creators to serve as our inaugural class. The company points out that through the collaborative effort, Visa and Johnson will help creators understand NFT technology and how to harness public blockchains for producing and selling digital goods. 

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