Visa has unveiled a new program aimed at helping digital-first creatives grow their small businesses through non-fungible tokens (NFTs).
The company has introduced the Visa Creator Program, which looks to help artists, musicians, fashion designers and filmmakers benefit from NFTs by incorporating them into their business model.
The creator economy is currently one of the fastest-growing categories of small business, with the market holding an estimated market size of more than $100bn.
According to Visa, each cycle of the program will support a selected group of entrepreneurs looking to deepen their understanding of the technology and platforms that underpin NFT commerce.
The creators will join a program designed to build and deepen their fluency in crypto commerce and traditional payments. The program is focused on support creators in five key areas.
The first is in technical and product mentorship, where Visa’s team of crypto product and strategy leaders will step in and cover topics such as evaluating tradeoffs between underlying blockchain networks, NFT marketplaces and smart contracts.
Creators will also have the ability to engage in community building by being able to exchange ideas and problem-solve with a community of creators in various stages of their NFT journey. They will also have access to thought leaders in markets such as crypto, payments, web3 and digital commerce, as well as opportunities to engage with firms across Visa’s network of clients and partners. Creators will also receive a one-time stipend to help them kick off their next phases of growth.
Visa head of crypto Cuy Sheffield said, “NFTs have the potential to become a powerful accelerator for the creator economy. We’ve been studying the NFT ecosystem and its potential impacts on the future of commerce, retail and social media. Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”
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