Posted 7 months ago | by Catoshi Nakamoto
VISA has announced that it is partnering with Aku creator and former Major League Baseball player Micah Johnson to encourage other digital artists to join the digital art NFT (non-fungible token) space.p>
VISA To Partner With NFTs Creators That Apply And Are Accepted
The financial behemoth stated in a press release that it was partnering with former Major League Baseball player turned NFT artist Micah Johnson to create an NFT program that will assist artists who want to digitize their artwork into an NFT.
The financial giant stated it will choose creators through an application process and then upon approval, they help them learn about the crypto and blockchain industry.
Johnson is the creator of Aku, an animated black astronaut, the NFT was released in February 2021 on Nifty Gateway and sold more than $2 million in NFTs in just 24 hours.
“Working together [with Visa], we want to arm creators with the resources they need to stay at the forefront of this revolution,” Johnson expressed.
Visa’s head of Crypto Cuy Sheffield took to Twitter to share the news expressing excitement for VISA’s partnership with Johnson and other future NFT creators to help them “leverage NFTs to participate in digital commerce.”
“We believe that we are at the beginning of a digital renaissance in the world of art and content creation,” Visa’s Head of Crypto Cuy Sheffield wrote on Twitter in a thread. “New technologies emerging in the crypto ecosystem, like NFTs, have the potential to lower the barrier to entry for digital creators across the world to build their own small businesses.”
1/ I’m incredibly excited for @VisaNews to partner with @Micah_Johnson3 to build a new program focused on how we can help creators leverage NFTs to participate in digital commerce https://t.co/uH0X4kneTV
— Cuy Sheffield (@cuysheffield) October 13, 2021
NFTs have become increasingly popular over the last few months with numerous big brands jumping into the NFT space releasing exclusive collections. These big brands include the likes of — Nike, Pringles, Pizza Hut, Bratz, Formula 1, Coca-Cola, Budweiser, Visa, Taco Bell, Charmin, Louis Vutton and even toilet paper brand Charmin, to name a few as Bitboy Crypto reported.
In fact, according to DappRadar, the NFT market surpassed $10 billion in sales volume in the third quarter of this year. So it’s no wonder that brands like Burger King have launched a collection campaign with the NFT marketplace Sweet called, Burger King Real Meals NFT.
VISA’S CEO Sees Potential In Crypto And NFTs
Visa itself seems to have taken a liking to the digital art NFT space having paid as much as $165,000 for an 8-bit CryptoPunk, one out of 10,000 of the world’s first NFTs. Visa previously praised the new digital collectible method on Twitter. stating: “Over the last 60 years, Visa has built a collection of historic commerce artifacts – from early paper credit cards to the zip-zap machine. Today, as we enter a new era of NFT-commerce, Visa welcomes CryptoPunk #7610 to our collection.”
Over the last 60 years, Visa has built a collection of historic commerce artifacts – from early paper credit cards to the zip-zap machine. Today, as we enter a new era of NFT-commerce, Visa welcomes CryptoPunk #7610 to our collection. https://t.co/XoPFfwxUiu
— VisaNews (@VisaNews) August 23, 2021
Visa’s CEO Al Kelly has previously said that he could see cryptocurrency becoming “extremely mainstream” in five years.Kelly further stated that VISA wants to make sure that the global digital payments giant is “in the middle of it.”
“The thing about our business that I actually like, Alan, is that we don’t pick winners and losers. You know, as you and I sit here and talk today, I don’t know to what degree cryptocurrencies are gonna take off. Are we gonna say in five years that it was a fad and it wasn’t a big deal? Or is it gonna be extremely mainstream? I’m not smart enough to know, but what I’m smart enough to do is make sure that our company is in the middle of it today,” Kelly said.
Additionally, Bitboy Crypto previously reported that VISA’s CEO Al Kelly stated the payment service is in a place where the financial giant can make cryptocurrencies more “safe, useful and applicable ” and may add cryptocurrencies to the company’s payments network.
Although, VISA hasn’t yet integrated cryptocurrencies into its payment network and those comments are months old. The company has partnered with Ethereum-based USDC stablecoin, announcing they would be connecting their global payments network of over 60 million merchants to the U.S. Dollar Coin (USDC) issued on Ethereum and developed by Circle Internet Financial. So the digital payments company seems to be all in when it comes to being exposed in the cryptocurrency market as we shift towards a world of digital commerce.
Bitcoin is currently trading at [FIAT: $58,290.76] UP +3.3% in the last 24 hours according to Coingecko at the time of this report.