Visa is launching an NFT Program for Small Businesses

Emphasising its view that the crypto space is an important channel for innovation and growth, Visa introduced a programme for entrepreneurs in creative industries to grow their small businesses with NFTs. 

In its blog, Visa said that the Visa Creator Program is a one-year immersion program that will work with people in the fields of art, music, fashion and film to deepen their fluency in crypto commerce and traditional payments. 

The creator economy has an estimated market size of more than $100 billion, making it one of the fastest-growing small business categories. 

Cuy Sheffield, Visa's head of crypto has said in the post, “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 the new breed of small and micro businesses tap into their next phase.”

Visa will link individuals participating in the program with teams of cryptocurrency products and strategic leaders for mentorship, and in particular, expands opportunities for collaboration with Visa's client network. The company also offers a one-time stipend to help developers begin the next phase of growth.

Last year, Visa entered the crypto world by buying its first NFT, the CryptoPunk, for about $150,000. Sheffield said in August that the purchase of NFTs by visa was partly aimed at helping customers better understand the space.