According to an announcement, Mastercard, a leader in international payments, unveiled its new artist accelerator programme on April 12.
Notably, the programme is non-fungible token (NFT)-gated, making Mastercard Music Pass NFT holders the only people who may access it.
The chief marketing and communications officer of Mastercard, Raja Rajamannar, stated that initiatives like these are being implemented to assist people in “better understand and trust how blockchain and digital assets are used.” He added:
“We also believe that Web3 can be a powerful tool in connecting people and building communities around shared universal passions.”
Mastercard Brings Limited-Edition NFTs
According to the statement, the NFT is a limited-edition release, and both musicians and fans can download it for free until the last day of the month.
Free access to instructional resources, special AI tools, and other activities are all part of the initiative, which was developed in partnership with Polygon.
Mastercard emphasized that it has long supported Web3 technologies and was also an early adopter of them in order to provide fans and artists additional chances to produce “exclusive, inclusive, and scalable experiences.”
The business introduced the “Mastercard Artist Accelerator” project in a blog post on January 7, announcing that it will pair mentors with five upcoming musicians from various parts of the world at the start of this spring.
The artists will be exposed to new artificial intelligence (AI)-driven music studios in addition to Web3 technology.
The crypto community as a whole is now witnessing rapid expansion in the music sector. A music album called Meebits, an ERC-1155 NFT collection owned by Yuga Labs and originally developed by Larva Labs, was released at the end of the last year.
The Sandbox, a metaverse firm, partnered with Warner Music Group in January of last year to create a music-focused digital theme park and performance space.
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