Visa plans for more presence in the NFT space

Global payment giant Visa has announced a partnership deal with former MLB player Micah Johnson to launch an NFT-based program. According to the announcement, the program is designed to offer support to digital artists that sell their work in the form of Non-fungible tokens (NFTs).

Micah Johnson, Visa’s partner for the project, became an NFT artist after retiring as a Major League Baseball (MLB) player in 2018.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

He is the creator of the NFT character known as “Aku,” an African-American boy putting on a space helmet who dreams of becoming an Astronaut.

24 hours after its release, “Aku” sold $2 million worth of tokens, becoming the first NFT to be options for film and TV.

Creators To Learn About NFTs

VISA stated that it’s excited about the future of the NFT and is looking forward to the partnership with Micah for business owners in the creator economy.

VISA says it decided to collaborate with Micah to enable creators to understand the NFT space and the technology. It will also help them take advantage of public blockchains to produce and sell their digital goods.

VISA To Sponsor Group And Provide Consultative Service 

In a press release, VISA stated that the goal is to provide a link between creators and its network of payment partners. The payment giant stated that the project will be of immense benefit to the creators as it will expose them to the world of the NFT. It will also provide an avenue for them to market their content, fostering business growth and expand the reach of their audiences.

This is not the first time VISA has engaged itself in the NFT space, as it made its first purchase in the industry in August this year. The payment behemoth coughed out 49.5ETH as payment for a CryptoPunk NFT. At the time, the amount was valued at about $160,000.

VISA says it plans to create an open application that will be used in selecting the first group of creators. Apart from sponsoring the group, the US firm has also pledged to provide consultative services.