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NFT: Visa introduces creator program for building NFT-focused businesses
Visa launches an immersion program where entrepreneurs can participate and learn about building businesses with NFTs. The American financial service company will be selecting participants in various fields, including film, fashion, and music.
Visa’s new project was designed to help creators navigate non-fungible tokens or NFTs. It is a one-year immersion program that is expected to bring together global creators who have a big interest in setting up their businesses with digital tokens.
The Foster City, California, headquartered company unveiled its new initiative on Wednesday, March 30. Visa is confident this will help small business owners in expanding their operations by using non-fungible tokens, as per CoinDesk.
As shared by Visa, its Creator Program will lead the chosen participants into the world of NFTs. It will focus on providing support to creators in five main areas, and these are technical and product mentorship, community building, access to thought leaders, exposure to Visa’s clients and partners, and lastly, stipend where a one-time stipend is offered to assist creators in starting the next phase of growth for their businesses.
“NFTs have the potential to become a powerful accelerator for the creator economy,” Visa’s head of crypto division, Cuy Sheffield, said in a blog post. “We have 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.”
In any case, the initiative is expected to deepen their fluency in crypto commerce and traditional payments of content creators. Visa is currently looking for participants, and the selected ones will join the cohort-driven program.
Meanwhile, Blockworks reported that it was in October of last year when Visa first mentioned its ideas for the creator program. At that time, the financial firm noted its partnership with the former PRO baseball player, Micah Johnson, who built his entertainment and media company called Aku.
“In the early days of my NFT career, I relied on a community of NFT experts and advocates to ground me in the new world,” Johnson said last year when it teamed up with Visa. “I am excited to work with Visa in providing that same type of mentorship to emerging artists setting out on their NFT journey.”
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