Mastercard has announced its latest Web3 program in partnership with Polygon – an accelerator project for music artists. The Mastercard Artist Accelerator will effectively utilize Web3 tools on the Polygon network to help artists connect with one another as well as mentors and fans.
Mastercard is one of the largest payment companies in the world with “249 million Mastercard credit cards in the U.S. and 725 million cards in the rest of the world at the end of March 2021″. Polygon is a blockchain platform that allows devs to build scalable dApps and at a lower cost. It was released in 2017 using the proof of stake consensus mechanism.
The emergence of a market where entertainment and Web3 meet is becoming more popular by the day. The Mastercard Artist Accelerator program is an example of how the two industries can capitalize on decentralization to transform how music content creation, collaboration, and ownership.
Mastercard Artist Accelerator program to Kick off in the spring of 2023
According to Mastercard, the program will start in the spring of 2023 – around March 2023. “The Mastercard Artist Accelerator will prepare five emerging artists—such as musicians, DJs, producers—with the tools, skills, and access to forge their musical paths in the digital economy,” Mastercard said.
In addition, all the artists will attend dedicated events, and music releases, and be taught how to build a successful music brand using Web3 tools such as NFTs and the virtual world, the payment giant added. This will help them connect with their fans in new and unique ways which represent the future of music.
Apart from musicians, Mastercard explained that fans can also be part of the experience using the Mastercard Music Pass, a limited edition NFT. The NFT gives access to “Web3 x Music educational materials, unique resources” for real life and a virtual world experience.
Raja Rajamannar, Mastercard’s Chief Marketing and Communications Officer, noted that Mastercard wants to use the program to expand access and drive connections in the music community further with cutting-edge Web3 technology.
With Web3 tools, we can empower artists to grow their fanbase, “make a living, and introduce novel mediums for self-expression and connection on their terms,” Ryan Wyatt, CEO of Polygon Studios added.
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