“NFTs Have Made the Crypto Ecosystem Cooler!”

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Cuy Sheffield, Visa’s crypto president, said: NFT he said that investing in cryptocurrency has become much cooler thanks to the creative products and assets attracted by his industry.

“NFTs Have Made the Ecosystem Cool”

Sheffield spoke on the first day of the Singapore Fintech Festival and expressed that a completely new class of mainstream users are flocking to crypto. Sheffield said that NFTs attract people with a wide range of interests, such as music, art and painting, and expressed that these people create a culture that “builds crypto wallets in waves”.

At this point Sheffield said, “Crypto is becoming cultural, it’s becoming cool. If you used to invest in crypto, it was looked at with a little strange eyes” he used his words.

Sheffield, thanks to blending the entertainment sectors with NFT technology crypto walletsnin believes that it can become a kind of “super application” where users can discover new content related to their interests, as opposed to being a way for users to keep only digital assets.

In addition, Visa’s crypto president october himself NFT he describes himself as an enthusiast and led the firm’s move to acquire CryptoPunk 7610 by paying 49.50 ETH in August.

Sheffield stated at the time that this move was part of an effort to gain firsthand knowledge of the infrastructure requirements for a global brand to purchase, store and use an NFT. In addition, Sheffield also hinted that the firm is considering offering NFTs-affiliated services:

The ability to track and use a digital asset in multiple environments can mean exciting new opportunities in ticketing, game music, art and beyond

WEB 3.0 Highlights

The annual event, which runs until November 12, is organized by the Monetary Authority of Singapore (MAS) and the non-profit organization Eleandi. This year’s event, Web 3.0 it focuses on the prospects of its technology and hosts such important guests as Visa, Mastercard, Chainlink, Celo AMTD Group, Microsoft, Ant Group and Tencent.

Ravi Menon, MAS’ Managing Director, also gave a speech at the event and noted that smart contracts and tokenization of real-world objects and intellectual property are the “main enablers” of the new Web 3.0 paradigm.

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