Following the announcement of a Polygon-based accelerator program to assist musicians in launching their careers via Web3, the world’s largest payments company Mastercard is increasing its exposure to blockchain technology once again.
In a blog post published on January 7, the business unveiled the “Mastercard Artist Accelerator” program, starting this spring, describing how it will pair five up-and-coming musicians from around the world with mentors who can help them establish their brands in the Web3 music market.
“The artists will have unique access to various events, music releases, and other things. A first-of-its-kind curriculum will show the artists how to develop their brand using Web3 activities including creating NFTs, putting up virtual identities, and creating active communities.”
Later on in the year, a live-streamed artist presentation will serve as the program’s capstone.
For individuals who are not chosen for the program, Mastercard is also offering a non-fungible token (NFT) collection called the “Mastercard Music Pass.” Through brand partnerships, it is hoped to supply hodlers with instructional materials and “unique resources” to aid aspiring artists in learning about the Web3 integrations with the music industry.
The CEO of Polygon Studios, Ryan Watt, made a statement in conjunction with the news and said. “Web3 has the potential to empower a new sort of artist that can create a fanbase, make a career. Moreof bring fresh media for self-expression and connection on their own terms.”
Polygon appears set to become a focal point for Web3 applications with a musical theme. On December 6, Warner Music Group, a major player in the world of entertainment. Teamed up with Polygon Studios, LGN.io, and e-commerce and interactive platform builder to create LGND Music, a Web3 music platform.
Users of the site will be able to stream music, collect, and exchange music NFTs once it launches later this month.
Mastercard has been expanding its presence in the blockchain and cryptocurrency industries. Mastercard and Coinbase partnered in January 2022 to make it possible to use Mastercard cards to buy NFTs on Coinbase’s marketplace.
Midway through October 2022, Mastercard and Paxos collaborated to make it possible for banks to provide their clients with cryptocurrency trading and related services.