American Payment service provider Visa introduced an NFT-based program ‘Visa Creator Program’ to support artists, creators, and musicians using booming NFT technology.
According to the data presented on Influencer Market Hub, the creator economy holds an estimated value of more than $100 billion.
“NFTs have the potential to become a powerful accelerator for the creator economy,” said Cuy Sheffield, head of crypto, Visa.
“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.”
As per the source, approximately 50 million artists, creators and musicians are getting their bread and butter from publishing their art and content. Owing to this, the immersive creator economy developed in the last few years.
Visa revealed that the Creator Program will be a one-year immersion into the world of NFTs, that provides the support required in technical and product mentorship, community building, access to thought leaders, exposure to Visa clients and partners, and a one-time stipend.
The first participant, already revealed in October 2021, to the Creator Program will be former Major League Baseball second baseman Micah Johnson. Micah Johnson also launched the NFT character Aku last year.
“In the early days of my NFT career, I relied on a community of NFT experts and advocates to ground me in this new world ” says Micah Johnson, “I’m excited to work with Visa in providing that same type of mentorship to emerging artists setting out on their NFT journey.”
The induction of the creator program is part of Visa’s initiative to help small and micro businesses by providing greater access to digital access in the upcoming years, which includes opportunities such as funding and technical support.
