The financial service corporation announced its digital asset initiative to help creators market their NFTs.
With NFTs reaching immense heights over the past several months in terms of media recognition and market value, artists are able to capitalize on the high demand for quality digital art.
However, the business side of NFTs, which includes selling and making art visible to a large audience, especially for emerging artists, might turn out to be difficult.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Web3? (Animated Explanation + Examples)
Based on the official report, Visa will be offering its Creator Program to select artists, designers, musicians, producers, and other types of creators. The program will give artists the fundamentals and strategies for accelerating their creative business through NFTs.
Visa highlighted five main areas that will be targeted throughout the program in order to help artists succeed in the digital asset market.
The Visa Creative Program will offer mentorship on basic knowledge of NFTs including "blockchain networks, smart contracts, and NFT marketplaces." Likewise, artists will receive insight into creating their communities, receive feedback and ideas from leading Web3 and digital commerce experts.
Finally, creators will get access to Visa’s resources to push their creative businesses forward through its partners, and a "one-time stipend" to help the initial launch of their projects.
Visa’s Head of Crypto Cuy Sheffield spoke on the Creative Program and highlighted its potential to help artists make a living through a new wave of economy, stating:
"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."
Currently, the Creator Program features Micah Johnson, who is the creator of the Aku World collection. He will be one of the mentors and help "emerging artists setting out on their NFT journey."