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Mastercard Partners with Polygon to Launch Web3 Musician Accelerator Program

The programme will assist five emerging artists in establishing and managing their Web3 brands, as well as educating people in the music industry about the opportunities that Web3 technology can provide.

Mastercard is increasing its exposure to blockchain technology yet again, after announcing a Polygon-based accelerator programme to help musicians build their careers via Web3.

The company announced the “Mastercard Artist Accelerator” programme in a blog post on Jan. 7, stating that starting this spring, it will connect five emerging musicians from around the world with mentors who will help them establish their brand in the Web3 music space.

“The artists will gain exclusive access to special events, music releases and more. The artists will be taught how to build (and own) their brand through Web3 experiences such as minting NFTs, representing themselves in virtual worlds, and establishing an engaged community, according to the post.

Later this year, the programme will culminate with a live-streamed artist showcase.

Mastercard is also launching a non-fungible token (NFT) collection called the “Mastercard Music Pass” for those who were not chosen for the programme. Through brand collaborations, the goal is to provide hodlers with educational materials and “unique resources” to help budding musicians learn about Web3 integrations with the music sector.

Polygon Studios CEO Ryan Watt stated as part of the announcement, “Web3 has the potential to empower a new type of artist that can grow a fanbase, make a living, and introduce novel mediums for self-expression and connection on their own terms.”

Polygon appears to be on track to become a hub for music-related Web3 projects. Cointelegraph reported on December 6 that global entertainment behemoth Warner Music Group had partnered with Polygon Studios and e-commerce and interactive platform builder LGN.io to create LGND Music, a Web3 music platform.

The platform, which is set to launch later this month, will allow users to stream music as well as collect and trade music NFTs.

Mastercard has been expanding its involvement in the blockchain and cryptocurrency sectors. Mastercard partnered with Coinbase in January 2022 to allow Mastercard cards to be used to purchase NFTs on Coinbase’s marketplace.

Mastercard partnered with Paxos in mid-October 2022 to enable banks to offer cryptocurrency trading and related services to their customers.

In the same month, Cointelegraph reported that Mastercard had launched a crypto fraud protection tool, allowing banks to detect and prevent fraud on cryptocurrency merchant platforms within its network.

 

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