Financial powerhouse Visa may soon regard NFTs and other digital art as a new form of e-commerce.
Visa NFT Program
Visa is one company that needs no introduction, and as one of the largest financial service providers, they hold a considerable amount of sway in the financial space and beyond.
To get to the point where they are now considered a financial powerhouse, Visa had to embrace new ideas and technologies. In the competitive financial space, it’s hard to make any headway without offering something better than everyone else.
In recent weeks, many major financial players have made their debut in the NFT space, including Visa, MasterCard, and JP Morgan Chase. This proves that financial players are beginning to realize the positives of the NFT and Web3 space.
Towards the end of March 2022, Visa debuted its NFT creator program to usher small businesses into the digital economy. Considering the incredible growth in the NFT space over the last few months, it looks promising, but most of the benefits are being experienced by a few companies and individuals.
There’s no denying that small businesses are missing out on the digital economy’s unique perks. According to Visa, its NFT creator program is here to help bring more small businesses into the digital economy. This thinking is different from almost anything else we’ve witnessed so far.
Digital Assets as a new form of e-commerce
Cuy Sheffield is Visa’s head of crypto, and during a recent conversation with TechCrunch, he shared how the rapid growth in the NFT space since 2021 has motivated the company to consider NFTs as a representation of a new e-commerce form.
In 2022, the word “small business” has evolved to mean more than just small physical stores or businesses; it now features a wide range of entrepreneurs and creators in the digital space looking to make a difference.