Cryptocurrencies: Visa is the secret move and strategy that change everything.

"The competitive advantage of cryptocurrencies, which most people do not yet understand, is that we just have more fun," says Cuy Sheffield, Visa's chief cryptocurrency director.

 The payment giant is doing what it stands for:

He revealed Monday that he followed the "cool guys" of the Internet and bought a non-fungible token, or NFT, of a CryptoPunk, one of 10,000 computer-generated characters, for $ 150,000.

Visa says it bought a "punk" - namely, No. 7610, a lady with a mo kana and green eye makeup - because of the project's historical significance. Although initially given for free by a pair of cryptocurrency pioneers in 2017, pixelated faces are now sold for hundreds of thousands to millions of dollars. 

The work represents one of the first and most influential experiments on NFTs.

The verifiable unique tokens of cryptocurrencies make digital content, everything from works of art to virtual real estate and rock photographs, traceable and marketable in a blockchain behind cryptocurrencies. 

The art of punk has also given birth to myriads of replicas, such as "bored monkeys," "strange whales," and "chubby penguins."

"Owning a punk is a sign. It means you were either there early enough to get one," says Sheffield, or that "you were convinced of the NFT ecosystem and the role they played, so you were willing to spend." money to buy one.

While the acquisition may seem strange to a company, it is not so unusual. Many companies, including many large Wall Street banks and companies, such as JPMorgan Chase, UBS, and Deutsche Bank, collect famous works of art and display them in their offices.

Visa already has a file of financial exhibits, including the first paper credit cards and knuckle buster machines for manual card printing.

 Other companies have already started experimenting with NFTs, such as Coca-Cola and Anheuser-Busch.

Cryptocurrencies are just the latest technological frontier for businesses - and Sheffield says he has had a great time with the stage. "In the last six months, I've had the most fun experience I've ever had in my entire career. "I feel like a child again," he told Fortune.

Visa enters cryptocurrencies. 

The company sees lucrative opportunities in the technology behind cryptocurrencies such as Bitcoin and Ethereum. Sheffield likens the commercial potential of NFTs to the rise of e-commerce allowed by the Internet.

 Visa could help broker NFT transactions between merchants and customers, for example.

While critics say NFTs say digital content can be played online for free, proponents say the technology has a different impact.

Unlike natural goods, NFTs are not damaged and can be exchanged directly and cheaply by anyone. "We believe that there will be millions of new traders who will be private, creative, and able to reach this global audience.

"It's fair; it's powerful," said Sheffield. "This is the world that is coming here."

Buying CryptoPunk was a learning experience for Visa as well.

 When the address of the company's crypto wallet became public, people started sending it all sorts of weird NFT items, including sketches of naked body parts. "You can not prevent someone from sending you something. "I think, in many ways, it's something like spam email," says Sheffield.

Companies are beginning to realize that it is worth supporting the game. For example, the people of the newly established financial brokerage company Robinhood understand the value of Laughter.

 A quarter of the company's second-quarter revenue came from trading Dogecoin, a funny dog-themed cryptocurrency. And the last few weeks at Fortune - where we sold our NFTs for $ 1.3 million - have been some of the most fun of my career.

A quarter of the company's second-quarter revenue came from trading Dogecoin, a funny dog-themed cryptocurrency. 

Governments, as well as banks, are showing particular interest in cryptocurrencies.

2022 will be a defining year for cryptocurrencies worldwide.

We read the main article for the first time: Fortune.

This text is for informational purposes only and in no way replaces the specialized consulting services.

Relevant Articles:  Blog news 

Affiliate blog:  Digital discount market profit

My YouTube channel, Digital discount, and profit Tools

My website:  Digital Discount Market