Mon, August 15, 2022

Visa Executive – The Impact of NFTs is a Huge on Crypto

Visa Executive - The Impact of NFTs is a Huge on Crypto

Visa executive, Cuy Sheffield, said investing in cryptocurrencies has become much more fantastic thanks to the influx of creative types from the NFT sector.

According to Cuy, a new class of mainstream users is moving to cryptology. NFTs attract people with a wide range of interests, such as the arts, music, and culture that make up cryptocurrencies. Crypto is getting more incredible than ever. With the previous trend, investing in cryptocurrency was weird, but now everything is different.

According to Sheffield, merging the entertainment sectors with NFT technology would be an excellent chance for cryptocurrencies to become a super apps. A space where users can discover new content that is relevant to their interests. It will be much more interesting than just storing digital assets.

The head of Visa’s crypto department is an NFT enthusiast. In August, she topped the firm’s move with CryptoPunk 7610 – a clown with green eyes, a female figure with a mohawk, and lipstick – for 49.50 ether.

According to Sheffield, this was the first step in understanding the infrastructure requirements to acquire NFT for the global brand. To store tokens and to use leverage. Cuy said the firm is looking to offer NFT-related services. The opportunity to use digital assets in many aspects is exciting, such as art, ticket sales, music, and more.

The Impact of NFTs – Annual Ceremony

The annual event will last until November 12. MAS and the non-profit organization Eleandi organize them. This year’s event focuses on the perspectives of Web 3.0 technology. These include Visa, Microsoft, Mastercard, Celo AMTD Group, Ant Group, Chainlink, and Tencent.

Speaking at the event, Ravi Menon, Director of MAS, said that tokenization of intellectual property, real-world objects, and smart contracts are critical enhancers of the new Web 3.0 paradigm. Ravi emphasized the importance of technology in commodities such as intangible assets, real estate such as patents, art, and digital music. 

He said the rights and property of the assets might have been transferred smoothly. This process will improve efficiency and liquidity. It has excellent potential to increase economic engagement and opportunities substantially. 

As recent data show, the impact of NFTs on cryptocurrencies is enormous. Covering different areas of interest for investors will further increase their popularity. Suppose there is a space where a single interest investor can enjoy the app’s environment. In that case, it will further accelerate the integration and development process.

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