Visa launches NFT program to support digital artists

Financial services giant, Visa, is teaming up with Aku’s creator and former Major League Baseball player, Micah Johnson, to create a program that will support artists who want to use NFTs to sell their work.

The press release stated: “We are excited about the future of NFT commerce and what this technology can offer small and micro business owners in the creator economy.

That’s why we’re partnering with Micah to create a program designed to help creators understand this technology and leverage public blockchains to produce and sell digital goods.

What does that mean

The announcement stated that Visa would select a small group of creators through an application process and then help them learn more about the crypto and blockchain industry. He stated: “Following an open application process, we will select a group of creators to serve as the inaugural class. We will sponsor this small group and provide advisory services to navigate the world of crypto and traditional payment infrastructure.

Micah Johnson joined the digital art space in 2020 and is the creator of Aku, a black astronaut animated character, who became the first NFT to be cast in a feature film. Aku was released in February 2021 on Nifty Gateway and sold over $2 million in NFT tokens in 24 hours.

The news continues after this announcement




The NFT space

The NFT sector has become one of the largest in the blockchain and cryptocurrency world and many established and new market players are trying to gain market share.

A large number of NFT marketplaces have been launched in recent months. On Tuesday, cryptocurrency exchange Coinbase announced the launch of its NFT marketplace which will launch towards the end of the year. Coinbase created a waiting list for individuals to gain early access and in less than 24 hours the platform had over a million signups.

According to a report by data analytics firm DappRadar, the NFT market surpassed $10 billion in sales volume in the third quarter of 2021. It said: “The NFT space generated $10.67 billion in transaction volume during the third quarter, an increase of 704% from the previous quarter. Ethereum and Ronin accounted for 77.73% and 19.53% of all-time highs, respectively.

Conclusion

Micah Johnson said:I am excited about the opportunity to work alongside and learn from a trusted brand like Visa. By working together, we want to equip creators with the resources they need to stay at the forefront of this revolution. »

Visa is trading on the New York Stock Exchange at a market price of $222.46, down 0.71% from yesterday’s close. It is up, however, by 0.063% in the pre-market skirmish.

Marilyn M. Davis