Top manager at Visa: “NFTs have made the cryptocurrency industry much more interesting” – Bits Media

Head of cryptocurrency projects of the Visa payment network Kai Sheffield (Cuy Sheffield) considers, that the popularity of collectible tokens has made the cryptocurrency industry more interesting for new users.

During the Fintech Festival in Singapore Sheffield stated, that thanks to NFTs, a “new class” of users is entering the cryptocurrency industry. Collectible tokens attract creative people - musicians, artists and artists. Their fans are “registering cryptocurrency wallets in waves”.

“The cryptocurrency industry is becoming a cultural phenomenon, she becomes attractive. Previously, if you invested in cryptocurrency, then they thought you were a little strange", - said a Visa top manager.

Sheffield also expects, that cryptocurrency wallets are transforming into something more, than just programs for storing assets. They will become "super apps", through which users will access content, appropriate to their interests.

The colleague was also supported by the Managing Director of the Monetary Authority of Singapore (BUT) Ravi Menon (Ravi Menon). He noted, что смарт-контракты и токенизация объектов реального мира становятся «ключевыми особенностями» парадигмы Web 3.0.

«После токенизации права на владения можно передавать крайне просто и быстро, it increases liquidity and trading efficiency. In the future, this could significantly improve the availability of various assets for people and provide new opportunities for the economy.", - says Menon.

Recall, that Visa bought in August
CryptoPunk collectible token. According to Sheffield, the move was made to "understand the infrastructure requirements for a global brand to purchase, storage and use of NFT". In October, Visa launched
new social project to help NFT creators.