Visa head of crypto Cuy Sheffield said that investing in cryptocurrency has become a lot cooler thanks to an influx of creative types drawn in past the booming nonfungible token (NFT) sector.

Sheffield was speaking on day ane of the Singapore FinTech Festival on Monday. He said that a "whole new class" of mainstream users are flocking to crypto and that NFTs are attracting people with a broad range of interests, such as music, art and culture, who are "setting up crypto wallets in waves."

"Crypto is becoming cultural, it'southward becoming absurd," Sheffield said, and added that:

"It used to be that if you were investing in crypto, you were kind of weird."

Sheffield believes that blending the amusement sectors with NFT technology could see crypto wallets become a sort of "super app" where users can discover new content related to their interests as opposed to merely a way to concord digital assets.

Visa's head of crypto is a self-proclaimed NFT enthusiast and spearheaded the house's movement to snap up CryptoPunk #7610 — a female effigy with a mohawk, clown green eyes and lipstick — for 49.fifty Ether (ETH) in August.

Sheffield stated at the time that the move was office of a button to "gain first-mitt understanding of the infrastructure requirements for a global brand to purchase, shop and leverage an NFT." He also hinted that the firm was looking at offering services tied to NFTs.

"The ability to rails and leverage a digital asset in multiple environments could hateful exciting new opportunities in ticketing, gaming music, art and beyond," he said.

Related: Peachy News: CryptoDragons NFTs gone in seconds, and a Counterparty collectable sold for $500K

The annual consequence, which runs until Fri, is organized by the Monetary Authority of Singapore (MAS) and nonprofit organization Eleandi. This yr's event is focused on the prospects of Web three.0 tech and features notable guests, including Visa, Mastercard, Chainlink, Celo AMTD Group, Microsoft, Ant Group and Tencent.

Ravi Menon, managing managing director of MAS, also gave a speech at the event, stating that smart contracts and the tokenization of existent-world objects and intellectual holding are the "key enablers" of the new Web 3.0 prototype.

Menon emphasized the significance of the tech in relation to bolt, such as real estate, and intangible avails, such as patents, along with digital music and art:

"Once tokenized, rights and ownership of these assets could be transferred seamlessly, improving liquidity and efficiency. This has the potential to substantially enhance economic opportunity and inclusion."