Visa has officially launched its creator program first announced last October to help artists grow their businesses with non-fungible tokens (NFTs). The program will run for one year in cohorts and train creators — including artists, musicians, fashion designers and, filmmakers — on NFTs and how to make the most of them. Those picked to join the cohort will get technical and product mentorship from Visa’s crypto experts; access to their fellow members as well as industry thought leaders and Visa clients and partners; and a stipend.
“NFTs have the potential to become a powerful accelerator for the creator economy,” said Cuy Sheffield, Head of the Crypto, Visa in a press release. “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.”
Believed to be worth an estimated $100 billion (roughly Rs. 7,56,915 crore) by Influencer Marketing Hub, the creator economy, which this move is designed to focus on, is regarded as the fastest-growing category of small business with over 50 million people.
To kick start the programme, a group of creators will join a group-driven program designed to build and deepen their fluency in crypto commerce and traditional payments. This pilot program will focus on supporting creators in five key areas. These keys areas include — community building, access to thought leaders, exposure to Visa’s clients and partners, and a stipend to help them begin their career in the space.
Visa has developed the creator program with former professional baseball player turned NFT artist Micah Johnson. Johnson recently created Aku — an NFT collection depicting a boy in an astronaut helmet — after overhearing a conversation where a young boy asked: “Can astronauts be black?”
Through Visa’s creator program, Johnson aims to provide mentorship to emerging artists setting out on their own NFT journey.
That said, Visa hasn’t yet decided how many creators it wants to train in this program, neither has it mentioned a range in terms of stipend. Creators interested in attending the program will have to complete a questionnaire form. They will then be interviewed for final consideration.