Renowned financial services company Visa announced Wednesday the launch of a new creator program that seeks to help selected artists expand their operations by leveraging non-fungible tokens (NFTs).
To be specific, each cycle of the program will help a selected number of entrepreneurs in the field of art, fashion designing, film-making, and music deepen their knowledge of the new technology and thus, provide mentorship.
For a period of one year, Visa’s latest initiative will support artists by way of technical and product mentorship, community building, access to thought leaders, exposure to Visa’s clients and partners, and a one-time stipend.
NFTs have the potential to become a powerful accelerator for the creator economy,” said Cuy Sheffield, head of crypto, Visa. He added:
“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.”
Visa first revealed its interest in the nascent technology after buying a CryptoPunk NFT for 50 ETH, or approximately $150,000 in August 2021. At the time, Visa acknowledged the growing importance of NFTs in the creator economy, which seeks to empower both creators and collectors.