Payments giant Visa (V) unveiled a Creator Program where selected small business owners in fields like music, fashion and film will be supported in expanding their operations through the use of non-fungible tokens (NFT).
- “NFTs have the potential to become a powerful accelerator for the creator economy,” Cuy Sheffield, Visa’s head of crypto, said in a statement. “Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”
- According to Visa, the Creator Program is a one-year immersion into the world of NFTs, with support focused in technical and product mentorship, community building, access to thought leaders, exposure to Visa clients and partners, and a one-time stipend.
- The so-called creator economy has an estimated market size of over $100 billion, according to Visa, citing data from Influencer Marketing Hub.
- One of the first Creator Program participants is former Major League Baseball second baseman Micah Johnson, who launched his NFT character Aku last year.
- The news comes a week after the company’s crypto product lead left for a new opportunity in Web 3 payments.