Mastercard and Polygon collaborate to introduce the Web3 musician accelerator program

The program’s objectives include educating people in the music industry about the opportunities that Web3 technology can provide them and assisting five up-and-coming musicians in establishing and managing their brands in the Web3 realm. After unveiling a Polygon-based accelerator program to aid musicians in advancing their careers via Web3, global payments giant Mastercard is increasing its exposure to blockchain technology once again.

In a blog post published on January 7, the company unveiled the “Mastercard Artist Accelerator” initiative, describing how, starting this spring, it will pair five up-and-coming musicians from across the world with mentors who can help them build their brands in the Web3 music market. “The artists will have unique access to events, new music releases, and other things. The artists will learn how to develop (and own) their brand through Web3 activities like creating NFTs, putting themselves forward in virtual worlds, and creating an active community, according to a groundbreaking curriculum” the post states.

Later on in the year, the program will come to a close with a live-streamed artist presentation.

With the debut of the #Web3-based Mastercard Artist Accelerator, which was announced today at #CES, we are eager to expand our music footprint! The new platform will support up-and-coming musicians in following their dreams and advancing their musical careers.

We’re excited to grow our music footprint with the launch of the #Web3-based Mastercard Artist Accelerator, announced today at #CES! The new platform will help emerging artists pursue their passion and accelerate their music careers. 🎶 https://t.co/ckwiqCV3Ob

— Mastercard News (@MastercardNews) January 6, 2023

 

For individuals who are not chosen for the program, Mastercard is also offering a non-fungible token (NFT) collection dubbed the “Mastercard Music Pass.” Through brand partnerships, it is hoped to supply hodlers with instructional materials and “special tools” 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 that

“Web3 has the potential to empower a new sort of artist that can create a fanbase, make a career, and bring fresh media for self-expression and connection on their own terms.”

Polygon appears set to Mastercard and Polygon collaborate to introduce the Web3 musician accelerator program. a focal point for Web3 applications with a musical theme. On December 6, News that Warner Music Group, a major player in the world of entertainment, has 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, amass, 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. The same month, Mastercard had introduced a tool to help banks identify and stop fraud on cryptocurrency merchant platforms connected to its network.

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