Visa has created a creator program to help small business owners in the music, fashion, and movie industries grow their enterprises using NFTs.
According to Visa, the creator program is a one-year immersion program in NFTs that provides assistance in the form of technical and product mentorship, community development, and
Visa, using statistics from Influencer Marketing Hub, estimates that the so-called “creative economy” has a market value of more than $100 billion.
Visa has created this creator initiative to assist artists in growing their enterprises via the use of NFTs.
Cuy Sheffield, Visa Crypto Head, weighs in on the issue
According to Cuy Sheffield, Visa’s crypto head, the initiative will ultimately enable Visa to build NFT commerce solutions.
Visa, however, stands to gain from this initiative. Using NFTs, Sheffield intends to learn more about the challenges and possibilities that creators face and how NFTs might help them make money from their work.
According to Sheffield at the time, Visa intends to play a role in NFT commerce, making it easier for consumers to buy NFTs and for retailers to accept NFT payments online.
For the sake of fostering a sense of community and providing technical mentoring, Sheffield said the cohort should be kept small.
How to participate?
In order to participate in the program, potential creators will be required to fill out an application form. According to Sheffield, they will then be questioned for a final decision.
Visa will also pay a one-time stipend to assist innovators in kickstarting their next growth phase, although Sheffield refused to elaborate on the amount of that stipend.