Visa takes its first foray into NFTs

Uğur Bayram

Aug 22, 2021

Visa recently purchased one of its CryptoPunk NFTs for $150.00. And with this acquisition, the digital payment platform Visa took its first step into the metaverse.

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Visa recently purchased one of its CryptoPunk NFTs for $150.00. And with this acquisition, the digital payment platform Visa took its first step into the metaverse.
According to a recent article, Visa, founded by Bank of America in 1958, purchased its first NFT.
Cuy Sheffield, head of cryptocurrency at Visa, said:
“We think NFTs will really play an important role in the future of retail and social media, entertainment and commerce. That's why we wanted to understand firsthand what it means to acquire, store and interact with an NFT. So we can build expertise and help customers navigate this space. We worked with Anchorage so we could be better positioned to be
Sheffield also said:
“We think there may be a future where your crypto address becomes as important as your mailing address. We are excited to help drive this new trade exchange in the future, as Visa has been here before with trade shifts.”
Diogo Monica, president and co-founder of Anchorage Digital, said this about how secure the bank vault is:
"Instead of a traditional bank with a real safe behind one of these very heavy blind doors, it hides behind a very heavily blinded digital door, which is the security Anchorage guarantees."
Sheffield also added:
"We're excited to see what developers are building and how we can help merchants, brands, and platforms connect and engage with NFT trading."

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