The head of the crypto at Visa firm appreciated the concept of NFTs in the crypto industry to push blockchain technology in non-crypto users.
Cuy Sheffield is head of giant payment network firm Visa. Cuy shared his take on the NFTs marketplace in speaking at the Singapore FinTech Festival on Monday.
Cuy said that the NFTs concept of the crypto industry is attracting the whole other non-crypto class in the blockchain industry through its unique concept of use case. It is attracting people who have an interest in music, art and culture, who are “setting up crypto wallets in waves.
Cuy said that NFTs is becoming a cultural thing and it is going to be cool because it is pushing people to first invest in crypto.
“Crypto is becoming cultural, it’s becoming cool…It used to be that if you were investing in crypto, you were kind of weird.”
Cuy believes that if the Entertainment industry will get into NFTs fully then it will give a result for the crypto wallet to use for interesting content.
Here the statement of the Visa head is an indication of a new concept with the NFTs concept to involve the YouTube-like video content platform in the decentralized framework. And if it happens then crypto wallet will become a “super app”.
Cuy inclination in NFTs
Visa head Cuy already bought an NFTs digital artwork a few months ago with 49.59 Ethereum. At that time, Cuy said that they are trying to understand the need of improving the existing systems.
“..gain a first-hand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT.”
At that time, Cuy also indicated that Visa’ blockchain team is doing something unique in the NFTs concept-based work to bring the use of blockchain technology uniquely.