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Visa has announced a Creator Program in which selected small company entrepreneurs in sectors including as music, fashion, and film would be assisted in expanding their businesses using non-fungible tokens (NFT).
“NFTs have the potential to become a powerful accelerator for the creator economy,” Visa's head of crypto, Cuy Sheffield, said in a release. “Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”
The Visa Creator Program offers a one-year immersion into the world of NFTs, including technical and product mentorship, community building, access to thought leaders, exposure to Visa clients and partners, and a one-time stipend, according to Visa.
According to Visa, which cited data from Influencer Marketing Hub, the so-called creative economy has a market worth more than $100 billion.
Micah Johnson, a former Major League Baseball second baseman who debuted his NFT character, Aku, last year, is one of the first Creator Program participants.
The announcement comes less than a week after the company’s crypto product head left for a new job in Web 3 payments.