Payments giant Visa (V) unveiled a Creator Program where selected small business owners in fields like music, fashion and film will be supported in expanding their operations through the use of non-fungible tokens (NFT).
“NFTs have the potential to become a powerful accelerator for the creator economy,” Cuy Sheffield, Visas head of crypto, said in a statement. “Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”
According to Visa, the Creator Program is a one-year immersion into the world of NFTs, with support focused in technical and product mentorship, community building, access to thought leaders, exposure to Visa clients and partners, and a one-time stipend.
The so-called creator economy has an estimated market size of over $100 billion, according to Visa, citing data from Influencer Marketing Hub.
One of the first Creator Program participants is former Major League Baseball second baseman Micah Johnson, who launched his NFT character Aku last year.
The news comes a week after the companys crypto product lead left for a new opportunity in Web 3 payments.