Visa on NFTs: ‘A Renaissance in the Art World,’ Launches New Program for Creators

The large payment company Visa is now a well-known name within the crypto sector. In August, for example, the company bought a non-fungible token (NFT). Now Visa is going to help NFT artists get started with a new program to make them more aware of the possibilities of NFTs, crypto and blockchain in general.

It is of course not surprising to us that Visa is so interested and sees a lot of potential in NFTs. An NFT is actually a crypto token that resides on the blockchain. By linking a unique code to such a token, the token is also truly unique. Because the NFT is on the blockchain, everyone can see who owns which NFT. All kinds of things can be linked to such an NFT, such as images, tweets and videos.

Visa vice president Cuy Sheffield even calls it “a digital renaissance in the world of art and content creation.” He wrote on Twitter:

“We believe we are at the dawn of a digital renaissance in the world of art and content creation – a thriving ecosystem of artists, musicians, writers, photographers and curators building communities at the intersection of culture and commerce.”

The company has therefore set up a program to help artists, creators and small businesses with NFTs. Together with crypto artist Micah Johnson, Visa will help these parties to better understand what NFTs are and what you can do with them. However, the focus is not only on NFTs. They will also explain to participants how they can receive crypto payments for their works.

The NFT market has become quite hot in the meantime. Before Visa bought its CryptoPunk NFT, these NFTs were sold for about $170,000. The lowest price is now climbing closer to $400,000.

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Ripple (XRP) also launched such a program at the end of last month. The company has set up a $250 million fund to encourage creators to launch NFTs on the XRP Ledger. The Swiss postal service, Swiss Post, will use NFTs in combination with postage stamps. This is where Polygon (MATIC) will help.

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