Visa: NFT ‘Promising Medium for Fan Engagement’ in New Whitepaper

2021-8-30 15:16

Visa released its anticipated non-fungible token (NFT) whitepaper, which praises the digital assets as a “promising medium” and continues its crypto positivity.

The financial services giant recently released its overview on the NFT industry in a whitepaper. The write-up of non-fungible tokens praised the digital assets and provided an outline of the technology. 

NFTs, a promising medium

After it describes the pandemic’s impact on various commercial sectors, Visa called NFTs a “promising medium for fan engagement.” The document reiterates the desire for digital communities and how NFTs fill that gap. 

“NFTs appeal to collectors, fans, teams, leagues, and talent, amongst others,” the document reads. “They have become a great way for individuals and businesses to capitalize on unique assets, engage fans, and potentially generate revenue while staying ahead of the curve and keeping pace with innovations in commerce.”

The document breaks down the ways in which NFTs can be engaged, referring to CryptoKitties and CryptoPunks, digital art, and games. Visa even recommended blockchains for NFT development, mentioning both Ethereum and the Flow blockchains.

Overall the document provides Visa clients with little knowledge of NFTs an overall introduction to the company’s new ventures. The company closes out the whitepaper by reiterating a crypto-forward stance. “Commerce is evolving, and innovations such as crypto and NFTs are likely to shape sports, entertainment, and other communities going forward.”

Crypto cheerleader

This whitepaper comes hot on the heels of Visa’s monumental NFT purchase. Last week, the company purchased its first NFT for $150,000 — a famed CryptoPunk collectible. 

However, throughout the past year, the financial services provider increased its footprint in the space. Visa’s crypto products have skyrocketed in popularity. The Visa crypto-linked card surpassed $1 billion in usage in 2021 and it released its first crypto-rewards system in a partnership with BlockFi.

This bullish stance on the crypto community doesn’t seem like it’s a fad in the company’s strategy. To close out the whitepaper, Visa also reiterated this commitment, saying, “Visa strives to enable connections to new crypto and blockchain networks offering greater choice, and enabling access, working to create a future where everyone has the opportunity to thrive.”

The post Visa: NFT ‘Promising Medium for Fan Engagement’ in New Whitepaper appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

NFT (NFT) на Currencies.ru

$ 0.1282 (+0.51%)
Объем 24H $0
Изменеия 24h: 4.93 %, 7d: 9.39 %
Cегодня L: $0.1282 - H: $0.1282
Капитализация $0 Rank 3750
Доступно / Всего 0 NFT

whitepaper visa medium nft promising new fan

whitepaper visa → Результатов: 6


Facebook Crypto Libra Crumbling as Visa, Mastercard Consider Quits: Report

Facebook’s cryptocurrency Libra has been in hot water ever since the social media giant released the whitepaper earlier this year. Central banks and governments across the globe have put together a concerted effort against Libra, putting Facebook executives in the dock time and again as they fear that the social media giant is out to […] The post Facebook Crypto Libra Crumbling as Visa, Mastercard Consider Quits: Report appeared first on CCN.com

2019-10-2 11:06


Проект Libra: Не станет ли он попыткой новой цифровой «долларизации» мировой экономики?

На прошлой неделе компания Facebook выпустила whitepaper для своей криптовалюты Libra, которая должна появится в 2020 году. СМИ сообщают, что гигант соцсетей уже привлёк в ассоциацию Libra 28 партнёров, среди которых Visa, Mastercard, Uber и Paypal, которые будут управлять узлами верификации транзакций.

2019-6-25 18:44


Best of Bitcoin & Tether Combined? 10 Libra Whitepaper Takeaways

Facebook’s Libra cryptocurrency whitepaper dropped this week, sending shockwaves through the Bitcoin and altcoin community. Is Libra the thing that pulls blockchain kicking and screaming into the mainstream, for the benefit of one and all? Or is it the final nail in the coffin of a cryptocurrency experiment just a decade old? Here are 10 key takeaways from the newly released Libra whitepaper.

2019-6-24 02:45