Mastercard and Polygon Debut Web3 Musician Accelerator Program

Leading global payments & technology company, Mastercard, is again expanding its access to blockchain technology by its announcement of the Web3 based Mastercard Artist Accelerator program to assist musicians in launching their careers via Web3.

In a January 7 blog post, the company unveiled the “Mastercard Artist Accelerator” initiative, stating that in the beginning of this spring, it will connect five new musicians from across the world with mentors who will help them establish their brand in the Web3 music sector. 

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

The post confirms that “the artists will gain exclusive access to special events, music releases and more. A first-of-its-kind curriculum will teach the artists how to build (and own) their brand through Web3 experiences like minting NFTs, representing themselves in virtual worlds and establishing an engaged community.”

For individuals who are not chosen for the programme, Mastercard is also introducing a non-fungible token (NFT) collection called the “Mastercard Music Pass.” Using brand partnerships, it is hoped to supply holders with instructional materials and “unique resources” to aid aspiring artists in learning about the Web3 interactions with the music industry.

Polygon Studios’ CEO, Ryan Watt said: 

“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.”

Mastercard’s Crypto Journey

Meanwhile, Mastercard and Coinbase partnered in January 2022 to make it possible for clients to use Mastercard credit and debit cards to make purchases on the cryptocurrency exchange’s future NFT marketplace.

Back in October 2022, Mastercard and Paxos collaborated to make it possible for banks to provide their clients with cryptocurrency trading and related services. To assist financial institutions in providing secure cryptocurrency trading services to their customers, the financial technology and payment firm launched a program called Crypto Source.