• Visa intends to expand its presence in the NFT space

  • Visa has announced a partnership with former Major League Baseball player Micah Johnson to launch an NFT-based program. The program, according to the announcement, is intended to assist digital artists who sell their work in the form of Non-fungible tokens (NFTs).

    Micah Johnson, Visa’s project partner, became an NFT artist after retiring from Major League Baseball (MLB) in 2018.

    He created the NFT character “Aku,” an African-American boy wearing a space helmet who aspires to be an Astronaut.

    “Aku” sold $2 million in tokens within 24 hours of its release, making it the first NFT to be optioned for film and television.

    Creators Will Be Taught About NFTs

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

    VISA says it chose to work with Micah to help creators understand the NFT space and technology. It will also assist them in utilizing public blockchains to produce and sell their digital goods.

    VISA For Group Sponsorship And Consultative Service

    VISA stated in a press release that the goal is to connect creators with its network of payment partners. According to the payment giant, the project will be extremely beneficial to the creators because it will introduce them to the world of the NFT. It will also allow them to market their content, promoting business growth and broadening their audience reach.

    This is not VISA’s first foray into the NFT space; it made its first purchase in the industry in August of this year. As payment for a CryptoPunk NFT, the payment behemoth coughed up 49.5ETH. At the time, the sum was estimated to be around $160,000.

    VISA intends to develop an open application that will be used to select the first group of creators. In addition to sponsoring the group, the US firm has agreed to provide consultative services.

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