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I find their explanation so strange… they are adding it to their “collection of historic commerce artifacts”? Do they run a financial network or a museum? If I

I find their explanation so strange… they are adding it to their “collection of historic commerce artifacts”? Do they run a financial network or a museum? If I were a shareholder, I would not be happy with this move.

dubcanada 5y ago
It's $150,000~ that is not even a error on Visa's accounting budget.
- hanklazard 5y ago
  Yeah I’m just saying out of principle it seems like a ridiculous move.
  - romille 5y ago
    It’s called brand marketing. Here we are talking about it.
    - jrootabega 5y ago
      Yeah, it's marketing now. And later, it will be used/loaned for seemingly academic articles/exhibits about commerce and crypto sponsored by Visa.
    - onion2k 5y ago
      It could be seen as legitimizing crypto as money, which represents an existential threat to VISA's entire business model.
    - watermelon0 5y ago
      Who is their target market exactly? IME (at least in Europe) you get either Visa or Mastercard depending on what your bank uses, and I don't think there are any differences.
      - criddell 5y ago
        Two tweets down, they posted: > Curious about NFTs and how to integrate them in your brand strategy? And then there's a link taking you to a page called: > NTFs: Engaging Today’s Fans in Crypto and Commerce
  - herodoturtle 5y ago
    In that case you'd be horrified to learn what some large listed companies spend on their historical museums.
leppr 5y ago
It's a marketing move that cost them $150k and will get them talked about, featured in many publications, and seen as "hip".
- prestigious 5y ago
  You mean it’s an investment of 150k that will likely be worth 1M by the end of the year, AND makes them seem hip.
JacobDotVI 5y ago
>Deutsche Bank Will Sell Off 200 Modern Works From Its Corporate Collection to Pivot Its Focus to Contemporary Art >The bank, which says it wants to buy more "up-and-coming talents," bought several works at Frieze London. https://news.artnet.com/market/sale-deutsche-bank-1914074 https://news.artnet.com/market/sale-deutsche-bank-1914074
notanzaiiswear 5y ago
Lots of companies seem to spend money on non-business related things, so there seem to be some provisions for that in the usual shareholder agreements? Many art exhibitions seem to be sponsored by financial institutions, for example.
- johnmaguire 5y ago
  It's a form of marketing/advertising.
moolcool 5y ago
I think it's pretty common for major companies to have an archive of industry milestones (like the Honda Collection Hall). Plus what they paid for this NFT is probably cheap for the PR they get in return, positioning them as a hip crypto player instead of a stogy old payment processing company.
micromacrofoot 5y ago
This is outrageously common; Fidelity owns ~12,000 pieces of artwork, for example. They have curation and management staff too.
csomar 5y ago
If it pumps their stock, why would shareholder be not happy about it.

dubcanada 5y ago

It's $150,000~ that is not even a error on Visa's accounting budget.

hanklazard 5y ago
Yeah I’m just saying out of principle it seems like a ridiculous move.
- romille 5y ago
  It’s called brand marketing. Here we are talking about it.
  - jrootabega 5y ago
    Yeah, it's marketing now. And later, it will be used/loaned for seemingly academic articles/exhibits about commerce and crypto sponsored by Visa.
  - onion2k 5y ago
    It could be seen as legitimizing crypto as money, which represents an existential threat to VISA's entire business model.
  - watermelon0 5y ago
    Who is their target market exactly? IME (at least in Europe) you get either Visa or Mastercard depending on what your bank uses, and I don't think there are any differences.
    - criddell 5y ago
      Two tweets down, they posted: > Curious about NFTs and how to integrate them in your brand strategy? And then there's a link taking you to a page called: > NTFs: Engaging Today’s Fans in Crypto and Commerce
- herodoturtle 5y ago
  In that case you'd be horrified to learn what some large listed companies spend on their historical museums.

leppr 5y ago

It's a marketing move that cost them $150k and will get them talked about, featured in many publications, and seen as "hip".

prestigious 5y ago
You mean it’s an investment of 150k that will likely be worth 1M by the end of the year, AND makes them seem hip.

JacobDotVI 5y ago

>Deutsche Bank Will Sell Off 200 Modern Works From Its Corporate Collection to Pivot Its Focus to Contemporary Art >The bank, which says it wants to buy more "up-and-coming talents," bought several works at Frieze London. https://news.artnet.com/market/sale-deutsche-bank-1914074 https://news.artnet.com/market/sale-deutsche-bank-1914074

notanzaiiswear 5y ago

Lots of companies seem to spend money on non-business related things, so there seem to be some provisions for that in the usual shareholder agreements? Many art exhibitions seem to be sponsored by financial institutions, for example.

johnmaguire 5y ago
It's a form of marketing/advertising.

moolcool 5y ago

I think it's pretty common for major companies to have an archive of industry milestones (like the Honda Collection Hall). Plus what they paid for this NFT is probably cheap for the PR they get in return, positioning them as a hip crypto player instead of a stogy old payment processing company.

micromacrofoot 5y ago

This is outrageously common; Fidelity owns ~12,000 pieces of artwork, for example. They have curation and management staff too.

csomar 5y ago

If it pumps their stock, why would shareholder be not happy about it.