Visa Launches NFT Program for Content Producers

Payment systems startup Visa has launched an NFT program tailored for content creators. This initiative aims to provide training on NFTs to a diverse range of content producers, including artists, musicians, fashion designers, and filmmakers seeking to expand their businesses through non-fungible tokens (NFTs).

The one-year program is designed to assist developers in the creation and development of NFT-related projects.

Cuy Sheffield, Visa’s Head of Crypto, stated, “With the program, we want to support content creators who use NFTs as bridges to new audiences, products, and services.

” He emphasized that as creators increasingly invest in this space, NFTs can take on various forms. Visa made its entry into the NFT industry in August of the previous year with the acquisition of the CryptoPunk collection.

💳 What is Visa Inc.?

Visa Inc. is an American multinational payment technology corporation that facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards, and prepaid cards.

• Core Function: Visa operates one of the world’s most advanced payment processing networks, called VisaNet. Its primary role is to act as an intermediary, routing transaction information, and coordinating the transfer of funds between the cardholder’s bank (issuer) and the merchant’s bank (acquirer).
• Card Issuance: It’s important to note that Visa does not issue cards itself, nor does it extend credit or set interest rates. Instead, it partners with thousands of financial institutions worldwide, which issue Visa-branded cards to consumers.
• Global Reach: Founded in 1958 (originally as BankAmericard), Visa has grown to become a dominant force in the industry, enabling digital payments in more than 200 countries and territories.
• Revenue Source: The company generates revenue primarily through service fees based on the volume of transactions processed, data processing fees, and international transaction fees.

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