Just some time back, multinational financial services corporation Visa announced that it has entered the world of non-fungible token (NFT) commerce with its purchase of CryptoPunk 7610 an NFT of a female digital punk character launched by creative technology project Larva Labs. Visa's purchase - worth $150,000 - comes at a time when the fintech giant considers that NFTs play an important role in the future of retail, social media, entertainment and commerce.
With this move, Visa is expecting a wide range of new cases in the years ahead, and its belief that the ability to track and leverage a digital asset, such as an NFT, in multiple environments could mean exciting new opportunities in ticketing, gaming music, art and beyond. With so much going on with crypto and NFTs, it is absolutely the right time to get to know this asset a little more in detail.
What are non-fungible tokens (NFTs)?
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