Visa Plans On Launching NFT Program That Will Help Creators

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Visa plans on launching an NFT program that will be oriented towards helping the creators and will also partner with a popular artist to release this project so let’s read more in today’s crypto news.

The US financial giant Visa plans on launching an NFT endeavor by partnering with NFT artist Micah Johnson to establish a program that will enable the creators to understand the NFT industry better and to utilize various public blockchains to develop and sell their work. The company announced the news in a press release and said it will provide a strong bond between creators and the network for payment which will also benefit both sides and will expand the reach of their audiences and foster busienss growth.

The latest development comes two months after Visa made its first NFT purchase so the financial services giant paid 49.5 ETH for a CryptoPunk NFT which reached a value of $160,000. in the meantime, in a new announcement, the company said it will select a group of creators to form the open application process and will sponsor the group as well as offer consultative services. Visa’s partner Micah Johnson is a former Major League Baseball player who retired in 2018 to became an NFT artist. He created “Aku” is a young African-American boy that has a huge space helmet and dreams of becoming an astronaut.

The NFT character was released In February this year and sold over $2 million worth of tokens in 24 hours. Aku later became the first NFT to be optioned for film and TV. Johnson said on the project:

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“I’m excited about the opportunity to work alongside and learn from a trusted brand like Visa. Working together, we want to arm creators with the resources they need to stay at the forefront of this revolution.”

Visa also joined the list of companies that started leveraging the growing NFT industry. Back in September, TikTok announced the launch of its NFT collection which features videos from influential creators like Brittany Broski, Lil Nas X, rudy Willingham and more. Coinbase also showed intentions to set up an NFT marketplace with the support for ERC-721 and ERC-1155 tokens while FTX also launched an NFT marketplace called Solana NFT marketplace for the US-based clients.

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