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Visa, the payment processing giant has finally joined the highly popular NFT mania with its first-ever purchase. Visa has reportedly bought one of the popular CryptoPunk NFTs, many of which have fetched over a million dollars in the auction. The payment processing giant has spent $150,000 for the digital CryptoPunk 7610. Visa didn’t directly pay for the avatar and did so in partnership with Anchorage. During the process, Anchorage also became the first-ever US bank to custody an NFT art.
Cuy Sheffield, head of the crypto at Visa said,
“We think that NFTs are going to play a really important role in the future of retail and social media, entertainment and commerce. So we wanted to understand firsthand what it takes to acquire, custody, and interact with an NFT. We’ve worked with Anchorage to do this so that we can build the expertise and be better positioned to help clients navigate this space.”
The CryptoPunk collection consists of 10,000 24?24 pixel images of automatically generated avatars. Visa’s CryptoPunk avatar is characterized by a lady with a mohawk and large green eyes.
This story is being updated
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