Nvidia’s China AI Chip Market Share Falls to 34% as Huawei Gains Ground 
UK Finance Minister Healey Calls for Fiscal Discipline Amid Global Risks 
Visa Wins China Approval to Prepare Domestic Payments Expansion 
US Stock Futures Rise as Oil Prices Fall Ahead of Q3 Earnings 
FAA Warns US Airlines Over Saudi Arabia Flight Risks 
Moonshot AI Executives Seek Settlement Ahead of Hong Kong IPO 
Most Americans Oppose Election Betting on Prediction Markets, Poll Finds 
Oil Prices Surge Above $106 After Deadly Saudi Airport Attack 
Asian Currencies Steady as Dollar Nears 18-Month High Ahead of US CPI 
South Korea Blocks 27 Crypto Exchange Websites in Regulatory Crackdown 
Asian Stocks Plunge as AI Chip Selloff Hits South Korea and Japan 
Samsung, SK Hynix Shares Plunge as China Chip Competition Grows 
Binance to Shut Down Crypto Mining Pool Services on November 10 
Meta Launches Muse Wonder AI Models, Shares Rise 3.7% 
Coinbase CEO Backs SEC Accredited Investor Reform 
US Dollar Near 18-Month High Ahead of Inflation Data 
IMF, World Bank Meetings Face Global Economic Risks Amid Iran War 
Add as a preferred source on Google
Visa has recently taken the first step to enter the NFT commerce business. It was reported that the American financial services company headquartered in Foster City, California, has purchased a CryptoPunk to begin its venture in the world of the non-fungible token (NFT).
The Block Crypto shared that on Monday, Aug. 23, Visa announced it bought CryptoPunk #7610, a female CryptoPunk, for $150,000. The firm said this marks the beginning of its business in the fast-growing NFT market.
For people who are not well-versed in cryptocurrency and NFT, CryptoPunks are considered as the original NFT that was launched by Larva Labs in 2017. The item that was purchased by Visa last week is just one of the 3,840 existing female punks.
These are a collection of 10,000-pixel art images of eccentrics and misfits. There are thousands of CryptoPunk, but each one has its own unique personality and features.
In any case, it was learned that Visa already has a number of vintage art pieces in its collection that are related to commerce, such as antique credit cards made from paper and knuckle busters, a manual credit card imprinter used to record transactions in the old times when POS terminals were still unheard of.
As to why Visa made the decision to buy a CryptoPunk, Cuy Sheffield, Visa’s resident crypto and NFT expert, explained that it was because NFTs will have a bigger role in almost all the businesses in the future.
“We think NFTs will play an important role in the future of retail, social media, entertainment, and commerce,” he said in a statement that was posted in a blog post. “To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT. Having worked with Anchorage Digital to complete this process, we’re better positioned to help our partners navigate the process.”
Finally, he went on to say that the company wants to support the artists, creators, and collectors that they believe will be the main driving force for the future of NFT commerce. This will also be helping small business owners get online and make business transactions with companies easier.
