BrandsIT »Financial giants go to NFT. Visa Launched Annual Developers Support Program

The annual Visa Creator Program education campaign is an opportunity for artists, musicians, fashion designers, filmmakers and creative creators from all over the world to expand their businesses using blockchain technology. Thanks to Visa’s knowledge exchange and mentoring program, starting this year, they will be able to build their businesses on NFT and use the market potential of about $ 40 billion in 2021 alone.

Virtual works of art sold under protection in the form of NFT tokens reach high prices. The Larva Labs team is selling their 10,000-project CryptoPunks virtual works for millions of dollars. In 2021, Mike Winkelmann’s painting, created under the pseudonym Beeple, was sold as NFT for a record $ 69 million. Kings Of Leon, NFT’s predecessor in the music world, grossed more than $ 2 million last year from the sale of their latest digital album, When When You See Yourself. These are examples of information that gives real support to the opportunities that cashless transaction giant Visa brings to creators from all over the world.

The program, initiated by Micah Johnson, founder of the Visa Creator Aku World NFT community, was announced by Visa last year. The annual training program, which provides full theoretical, product and mentoring support in practice, was launched in March this year. It creates not only an unlimited network of creators using access to knowledge about innovations in the digital economy, but also an NFT practical network that supports new entrepreneurs on their way to the so-called field. “Tokenization”.

– The traditional way of selling physical goods is, of course, associated with great difficulties, such as logistics or insurance (this is especially important for rare objects – for example, works of art). In addition, the issue becomes more complicated when supply chains are cut. Therefore, in an increasingly fast-paced world, NFT tokens help and allow creative, talented creators to digitize their products.Bartosz Bilicki from SmartVerum.com, a startup that symbolizes art and creates an artistic metaverse, explains.

Digital art is a new e-commerce

In addition to the mentoring and community aspects, Visa is expected to offer developers the opportunity to work with the financial giant’s network of clients and partners, as well as other benefits such as access to Web3 leaders. . Program participants will also receive a one-time scholarship to help implement the proposed solutions.

– Visa has thoroughly analyzed the potential of NFT tokens in 2021 and information about their sales in different areas. According to NonFungible.com, blockchain technology is a widely understood art (and thus the work of musicians, fashion designers and filmmakers), ranked third among the most dynamically developing sectors of the economy.n – Bilicki explains and adds that the investment in educating millions of potential entrepreneurs who want to start a business and sell online at the same time is Visa’s investment in building a new business mindset for small businesses. – This will bear fruit for both parties in the future, as we witness the birth of a completely new distribution branch, concluded during the training phase, with an unwritten partnership agreement. Predicts the founder of SmartVerum.com.

This is not Visa’s first commitment to blockchain technology. There has already been a lot of talk about the acquisition of the popular CryptoPunk in August 2021, which, as the head of cryptocurrency Visa Cuy Sheffield admits, was not the company’s only investment in NFT. Last year, Visa created an in-house cryptocurrency team, and in December 2021, it launched a cryptocurrency advisory unit that supports clients and partners in its investment in this area of ​​the digital economy. – What we are interested in at NFT is to reduce the barrier to entry for people who want to set up a business and sell online. Sheffield concluded in one of his statements.

However, Visa is not the only player in the cashless payment category that is so active in the field of NFC. In early 2022, Mastercard announced a partnership with Coinbase, a leading cryptocurrency exchange, to facilitate the acquisition of non-exchangeable tokens and customer experiences. Both companies are working on new payment methods that will allow users to pay for NFT using Mastercard in the future. According to the hypotheses of the partnership, this guarantees a scale effect in the new method of selling and buying items of digital collectors.

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