Mastercard Unveils Polygon-based Web3 Accelerator for Musicians

Global payments network Mastercard has revealed its latest innovative Web3 venture. Via the new “Artist Accelerator” feature, Mastercard hopes to usher in five burgeoning musicians into the Web3 experience as well as stardom. 

Mastercard Program to Teach Web3 Branding

Dubbed the Mastercard Artist Accelerator, the initiative is set to leverage Web3 and blockchain solutions to empower rising artists. The Mastercard program will feature a unique training module that prepares artists to utilize Web3 in creating their brands. Not only that, Mastercard says its first chosen artistes would receive proper resources that would allow them to chart a successful career path in the virtual ecosystem. For the coming rollout, Mastercard will select only five music professionals — from musicians to DJs and producers.

Lessons cover subjects such as NFT minting, representation in digital worlds, and also how to build an invested community. Mastercard described the program as a Web3 collective which unites musicians, creators, and fans to collaborate in a unique fashion. 

Mastercard Partners with Polygon, Fans Welcome Aboard

Raja Rajamannar, Mastercard’s Chief Marketing, and Communications Officer shared his thoughts on the coming program in a statement. Rajamannar expressed his view of music as a universal passion. He then acknowledged the challenges budding artists face as they break into the industry.

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Raja says the Mastercard Artist Accelerator will even the playing field to some extent. Mastercard’s new program will bring easy access to the music scene via Web3 technology while simultaneously furthering connections. 

Our vision is to bridge passion and purpose. Spotlighting amazing emerging artists and creating an interactive community that allows participants to learn, experiment, and grow together.”

According to the website, Mastercard will begin onboarding artists in the spring of this year. It has also teamed up with blockchain platform Polygon for the program.

Polygon network confirmed the notable development in a publication on Friday. Polygon’s release noted that the Mastercard Artist Accelerator is open to fans as well. The payments company will allow fans to come aboard and learn with the artists to “sharpen their own tools” and better understand Web3.

Mastercard to Launch NFTs

Interestingly, the Polygon report noted that the program will culminate in a live-streamed artist showcase a few months down the line. Mastercard also revealed that a limited-time release NFT project called Mastercard Music Pass will accompany the Accelerator. Through this holders will access tools such as Web3 and music-focused materials, and “priceless” IRL and metaverse experiences among others.

CEO of Polygon Studios, Ryan Wyatt echoed Mastercard’s sentiments about the initiative. Wyatt pointed out Web3’s ability to bolster a new type of artist. He described this artist as one who could build a career via innovative models of self-expression while still maintaining their independence.

The Mastercard Artist Accelerator not only shows the power of brands embracing this new space, it provides tools that can educate consumers on how to participate” 

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Wyatt concludes that the new artist accelerator is an important step forward in opening up the benefits of Web3 to more people.