Visa is another major player that recently got into the NFT craze. The company launched an NFT creator program that should bring small businesses into the digital economy. What’s more, Visa sees NFTs as the new form of ecommerce.
Rapid Growth of the NFT Ecosystem
Cuy Sheffield, Head of the crypto at Visa, stated that Visa had seen significant growth in the NFT ecosystem over the last year. As a consequence, it believes that NFTs can represent a new form of ecommerce.
Businesses are shifting from traditional brick-and-mortar to digital business models. As a result, more entrepreneurs hope to create digital companies and use what NFTs can provide.
Visa’s new Creator Program is launched with the idea to bring together artists, musicians, fashion designers, filmmakers, and others, and show them how to build their businesses using NFTs.
What’s more, large merchants are also looking for a way to get involved. Sheffield also stated that NFTs lower the barrier because more people can enter the industry and sell online.
Creatives can avoid the usual logistics of creating and selling a physical product. Instead, they can create their art online and sell it with ease. According to Visa, this is just one way NFTs can change the existing commerce and present new opportunities.