Crypto seems cooler after the NFT boom, says Visa executive

The boom of non-fungible tokens has boosted creativity in the crypto world. Cuy Sheffield, head of crypto in Visa, said that crypto investing has become very cool after the arrival of NFTs.

While speaking on the Singapore FinTech Festival‘s day one, Sheffield said that this “whole new class” of creative-minded investors are flooding the crypto market as NFTs have been becoming the biggest source of attraction to bring people with a broad range of interests such as art, music, and culture. 

He added, “Crypto is becoming cultural, it’s becoming cool while earlier, it used to be that if you were investing in crypto, you were kind of weird.”

He believes that mixing entertainment with NFT technology can soon make crypto wallets a sort of “super app” to discover and consume new content related to an individual’s interests instead of just being a means to hold digital assets. 

Visa and crypto industry

Visa has been a enthusiastic participant for a long time in crypto. As TheCoinRise reported, the company announced in October about its launch of a new NFT program amidst the increasing popularity of NFTs. The program is aimed to bring new talents to the industry. VIsa has also partnered with the famous Baseball player Micah Johnson.

The self-proclaimed NFT enthusiast and Visa head have previously headed the company’s move to snap out CryptoPunk #7610. The company has also opened a new platform for the transfer of stablecoins and CBDCs.

Sheffield further added that tracking and leveraging a digital asset in different environments could bring new opportunities in gaming music, ticketing, art, and other fields.

Singapore FinTech Festival is an annual event that will run until Friday of this week. It is organized by the nonprofit organization Eleandi and the Monetary Authority of Singapore (MAS). This year’s main focus was on the prospects of Web 3.0 technology.