The metaverse is filled with great news today, but one of the biggest stories has to do with one of the biggest companies in the world, Visa. The credit card company is offering a new program to help artists break into the NFT world. Here’s what’s going on:
Visa Launches NFT Education Program
Visa recently unveiled the Visa Creator Program, a new program that was designed to help digital artists, musicians, fashion designers, and filmmakers around the world build up their businesses through NFTs, according to a press release that was issued early this morning.
According to the release, there are 50 million artists, musicians, and creators around the world that publish content as a full or part-time business, building a creator economy that’s worth more than $100 billion a year.
The program will roll out in cycles with each cycle of the program supporting a segment of entrepreneurs that are interested in improving their understanding of NFTs and the technology and platforms behind them.
The program is specifically geared toward entrepreneurs in the art, music, fashion, and film industries that are interested in bringing the NFT concept into their business models.
The big concern is failed projects.
As with any other industry, the NFT industry has its quirks, and those that dive in blindly fail from time to time, leading to about one in three collections having little to no trading volume and thousands of collections trading below the cost to mint the tokens.
As these failed projects continue to grow, experts are pointing to wh the projects failed and what could have been done to bring them to success.
As is the case with any company, Visa simply doesn’t want the companies and consumers it serves to fail. So, they’ve put together the Visa Creator Program to further educate artists on how to be successful in a blockchain-driven world.
In a statement, Cuy Sheffield, Head of Crypto at Visa, had the following to offer:
“NFTs have the potential to become a powerful accelerator for the creator economy. 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.”
The Bottom Line
The Visa Creator Program outlines the fact that yet another big name is diving into the metaverse. Moreover, it outlines the fact that NFTs have the potential to drive massive improvements in creative businesses. With this program, more and more successful artists are likely to join the metaverse.