Visa whitepaper describes NFTs as a ‘promising medium for fan engagement’ By Cointelegraph


Visa whitepaper describes NFTs as a ‘promising medium for fan engagement’

Visa’s splash into the NFT market was driven by an evaluation of the underlying technology and its ability to serve as a “promising medium for fan engagement,” according to a recent whitepaper published by the global payments giant.

The Aug. 23 publication described nonfungible tokens as an important innovation during the pandemic, where strict shelter-in-place orders limited live sports, entertainment and music festivals. At the same time, NFTs are emerging at a time when fans are eager to join digital communities centered around their favorite artists or sports teams.