2021-08-24 06:48:29
Bullish News for - Non-Fungible Tokens (NFTs) - Visa is the latest major company jumping into the NFT craze.
The payments processor said Monday it bought a “CryptoPunk,” one of thousands of NFT-based digital avatars, for nearly $150,000 in ethereum.
An NFT — which stands for non-fungible token — is a unique digital asset designed to represent ownership of a virtual item. Unlike bitcoin and other cryptocurrencies, NFTs can’t be exchanged like-for-like with another NFTs.
“We think NFTs will play an important role in the future of retail, social media, entertainment, and commerce,” Cuy Sheffield, head of crypto at Visa, said in a blogpost Monday.
“To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store, and leverage an NFT.”
https://www.cnbc.com/2021/08/23/visa-buys-cryptopunk-nft-for-150000.html
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