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Visa Buys NFT of Digital Avatar With Mohawk for $150,000

Aug. 23, 2021, 7:54 PM

Visa Inc. bought a digital avatar for $150,000 in a show of support for a burgeoning area of investment in the realm of cryptocurrencies and blockchain technology.

The purchase of CryptoPunk #7610 — one of a slate of digital avatars originally distributed free to anyone with an ethereum wallet — was made on Aug. 18 with 49.5 of the cryptocurrency ether.

“We think NFTs will play an important role in the future of retail, social media, entertainment and commerce,” Cuy Sheffield, Visa’s head of crypto, said in a company blog post. Visa wanted to “signal our support” for people involved in the NFT market, Sheffield said.

Visa is ...