New Delhi: Digital payments leader Visa on Wednesday launched a new program to help creators such as digital-first artists, musicians, fashion designers and filmmakers accelerate their small businesses through non-fungible tokens (NFTs).
This initiative named ‘Visa Creator Program’ will help the next generation of entrepreneurs to understand and use NFTs.
“NFTs have the potential to become a powerful accelerator for the maker economy,” said Q Sheffield, Head of Crypto, Visa.
“Through the Visa Creator Program, we aim to help this new breed of small and micro businesses tap into new mediums for digital commerce,” Sheffield said.
Currently, around 50 million artists, musicians and producers worldwide publish content as a full- or part-time source of income.
With an estimated market size of over $100 billion, the maker economy is one of the fastest growing categories of small businesses.
Visa said it aims to help creators navigate the technology behind NFTs and better understand what value it can unlock for digital ownership and monetization of creative assets, allowing it to to be made more accessible.
Selected creators will join a group-driven program designed to build and deepen their flows into crypto commerce and traditional payments.
The program will offer mentorship with Visa’s team of crypto product and strategy leaders, covering topics including evaluating tradeoffs between the underlying blockchain network, smart contracts, and the NFT marketplace. Read also: SEBI issues timeline for rebalancing portfolio of mutual fund schemes
It will also provide a one-time stipend to help creators kickstart the next phase of development. Read also: Noida: Good news for 40,000 home buyers! Banks to disburse Rs 1,500 crore to complete Amrapali projects
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