- According to company data, around 50 million people in the world are dedicated to creating and publishing this type of content as a source of income.
- The company believes that digital commerce will continue to grow in the coming years, mainly driven by small and micro-enterprises.
Visa (NYSE:V) launched the ‘Visa Creator‘ program, whose main objective is to provide assistance to artists, musicians, fashion designers and filmmakers who are engaged in creating works of art in virtual space.
The company seeks to boost mainly small businesses through the development of NFTs. To do this, Visa will select groups of creators who want to deepen their knowledge of the crypto industry.
According to the company’s data, currently some 50 million people are dedicated to creating and publishing content permanently as a source of income full or part time.
The total market size for the NFT creator economy is more than $100 billion, according to a report by Influencer Marketing Hub. In this area, small companies are the ones that show the greatest growth.
NFTs are digital assets developed through blockchain technology in the form of videos, music, images or software that allow their ownership and authenticity to be established, just like any other creation or work of art.
Potential of NFTs in the maker economy
Before launching the program, the payment company was collaborating with Micah Johnson, former professional athlete and creator of NFT behind Aku World.
"Early in my NFT career, I was supported by a community of NFT experts and advocates who helped me establish myself in this new world," said Johnson, who has also been one of the first artists to participate in the Visa Creator program. For the head of Visa's cryptocurrency department, Cuy Sheffield, "NFTs have the potential to become a powerful accelerator for the creator economy." “We have been studying the ecosystem and its possible impact on the future of commerce, in the retail sector and in social networks. Through the Visa Creator Program we want to help this new group of micro and small businesses take advantage of new media for digital commerce," he added.
Creator support areas
The five areas that the program will focus on include: Visa technical and crypto product mentoring with the support of specialists in blockchain networks, NFT markets and smart contracts.
Likewise, the development of ties in the community and access to intellectual leaders to strengthen and perfect digital creation. As well as in the areas of exposure to Visa clients and partners and in the remunerative part, which consists of a one-time payment to help creators grow and develop their production unit.
On the Flipside
- The NFT market has grown exponentially in recent years. However, some analysts note that it is a bubble that appears to be shrinking.
Why You Should Care
- The Visa Creator program could help small and micro businesses related to NFTs to improve their access to the digital economy.
- Through the program they will be able to access financial resources, technical support and industry experience.
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