Visa is launching an NFT support program to help artists join the digital art space.
Visa said in a press release that the financial services giant is working with former Major League Baseball player and NFT artist Micah Johnson to create a program to support artists who want to use NFT to sell their work.
Visa will select a small group of creators through an application process and then help them learn about the cryptocurrency and blockchain industry.
“We believe we are at the beginning of a digital renaissance in the arts and content creation space,” Cuy Sheffield, Visa’s head of cryptocurrency, wrote on Twitter.” New technologies emerging in the cryptocurrency ecosystem, such as NFT, have the potential to lower the bar for digital creators around the world to build their own small businesses.”
A large number of NFT marketplaces have launched in recent months. On Tuesday, cryptocurrency exchange Coinbase became the latest institution to join the trend. According to a report by data analytics firm DappRadar, the NFT marketplace sold more than $10 billion in the third quarter.
Micah Johnson, who joined the digital art scene in 2020, is the creator of Aku, an animated character of a black astronaut that has become the first NFT to be cast in a major motion picture.Aku was released on Nifty Gateway in February 2021 and sold over $2 million in NFT tokens within 24 hours.
“[With Visa], we hope to arm creators with the resources they need to stay at the forefront of this revolution,” Johnson said in a statement.