Skip to main content

Visa has gone NFT crazy

Visa has gone NFT crazy, buying an original NFT to learn more about this growing industry.
| CryptoPress
 | Last updated: July 18, 2023
| CryptoPress
Last updated: July 18, 2023


Visa has gone NFT crazy, buying an original NFT to learn more about this growing industry.

Last monday, Visa became one of the first major corporations to join the realm of digital art, purchasing a prominent Nft de Criptopunk and throwing the art world into a frenzy.

The purchase, which generated headlines in the main media, stimulated an increase in the demand of the boys and girls of punk aspect in the form of non-fungible tokens.

The first Visa Nft, one of the 10,000-pixel pictures of 24×24 from the Cryptopunk collection produced algorithmically, is an avatar of a female figure distinguished by a Mohawk, Great Green Eyes, and Bright Red Lipstick.

“Criptopunk 7610” is one of the collection’s 3,840 female punks pictures and the visa’s most recent effort to acquire traction in the global crypto and NFT mark.

The digital payments behemoth paid $150,000 for this one-of-a-kind piece of art, taking his first quiet step towards the metaverse, a burgeoning online realm that promises to convert the Internet into virtual reality.

“We think that NFT will play a significant role in the future of retail, social networks, entertainment, and commerce,” said Crypto’s head on Visa, Sheffield.

The purchase of VISA NFT adds to the validity of the value they represent. Following the news of Visa’s acquisition of Criptopunk’s NFT, more than 90 figures were sold in less than an hour.

Larva Labs introduced the Cryptopunks, which are regarded as the first NFTs, in 2017.

OpenSea, one of the first and biggest non-fungible Token marketplaces, sold out of all of its NFT Tulips in 2.5 hours, with the highest price being $ 27,000.

Relevant tweets by Visa about the purchase of the NFT

From early paper credit cards to the Zip-Zap machine, Visa has amassed a collection of historic commerce artifacts over the past 60 years.

Cuy Sheffield, Visa’s Chief of Crypto, said that the company’s art collection includes Paper Early Paper and Knuckle Busters credit cards.

“We are thrilled to collaborate with this burgeoning community to make NFTs more useful and accessible in a number of settings,” SHEFFIELD stated.

Along with the acquisition announcement of the Cryptopunk NTF, Visa has also released an NFT wallpaper to assist brands and businesses in better understanding NFTs and their potential. Meanwhile, Anchorage, a newly chartered bank, aided in the agreement’s completion and, more importantly, became the first known bank in the United States of America to hold one of these unique assets.

Cryptopunk operates on the Ethereum Blockchain and may be purchased in that network, which will undoubtedly increase the value of Ethereum even more, despite the fact that network transfer speed and fees -which are on a countdown to Ethereum 2.0– have yet to be addressed.

Although it was thought that the Bubble Nft had exploded and that prices would fall, the non-fungible Tokens market has seen a surge in popularity since the beginning of this month.

© 2022 Cryptopress. For informational purposes only, not offered as advice of any kind.


More Articles

Why all the fuss about BTCBSC?

BTCBSC is a new cryptocurrency project that aims to replicate the success of Bitcoin’s early days. The project is built on the Binance Smart C…

Telegram Bots for DEX Trading: Benefits and Risks

Telegram bots are applications that use the messaging app as an interface to execute trades on decentralized exchanges (DEXs) like Uniswap. Th…

Balancer Secures 97% of Affected V2 Pools After Critical Vulnerability Report

Balancer, a liquidity protocol, discovered a critical vulnerability affecting over 100 of its v2 pools across eight blockchains. The issue has…
© Cryptopress. All rights reserved.