Mastercard is launching an NFT at the NFT.NYC 2023 conference to support emerging musicians. The NFT, called Mastercard Music Pass, unlocks the Mastercard Artist Accelerator program, which provides free educational materials, AI tools, and Priceless experiences to boost creativity for music artists.
The NFT leverages Mastercard’s design principles and sonic melody to create a unique digital collectible. Mastercard created this initiative with blockchain developer Polygon to educate more people about the digital transformation happening in music.
Mastercard supports the music industry and sponsors events like the GRAMMY Awards, Latin GRAMMY Awards, and BRIT Awards. They also created the Sonic Latin America Music Festival in the metaverse using Web3 technologies. The Mastercard Artist Accelerator helps emerging artists succeed in the tech-driven era, and fans can unlock the program with their Mastercard Music Pass.
Mastercard has chosen five artists from different genres and locations to participate in their Artist Accelerator program. These artists will receive mentorship and use an AI music studio powered by Warpsound to create content, learn about blockchain for monetizing their work, and build a fan community in the Web3 environment. Mastercard believes in the power of education to support the creator economy and encourages innovation, business understanding, skill-building, and networking.
The music industry is one of the most active spots for the use of NFTs. From songs recorded as audio and video NFTs to tickets for music events, the sector has embarrassed the innovation created on the blockchain. Brands such as Universal Music Group, Warner Music Group, Sony Music, Capitol Records, and Republic Records have taken steps to incorporate NFTs into their endeavors.
Grimes, Kings of Leon, Deadmau5, Steve Aoki, The Weeknd, Snoop Dogg, Eminem, Shawn Mendes, Linkin Park, and Ozun are a few top stars that own their works as NFTs.
Read also;
Mastercard partners Polygon to launch a music accelerator program
Mastercard launches software to fight crypto crimes
