Visa launches its Visa Creator Program to creators Interested in NFTs

World-renowned credit company, Visa, has launched its Visa Creator Program which will offer artists, musicians, fashion designers, and filmmakers the opportunity to build their enterprises through NFTs.

In its Wednesday press release, Visa reports that there are over 50 million artists, musicians, and creators who publish content as a source of income. Furthermore, the company states that the industry has a market size of more than $100 billion.

The program aims to support entrepreneurs who are looking to deepen their understanding of NFTs and the technology behind them.

“NFTs have the potential to become a powerful accelerator for the creator economy,” said Visa Head of Crypto Cuy Sheffield in the release. “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.”

Last week, it was reported that about 30% of NFT collections expire without much trade activity. Additionally, a third of NFT collections have been trading below the price it costs issuers to mint the tokens.

NFT sales have recently seen a drop as the 20-day sales volume is down by 40% from last month. Consequently, OpenSea, one of the world’s largest NFT marketplaces, saw trade volume drop by 67% in March 2022.

Source: PYMNTS