Mastercard partners with Polygon to launch Web3 musician accelerator program

Global funds big Mastercard is ramping up its publicity blockchain tech but once more, after asserting a Polygon-based accelerator program to assist musicians construct their careers through Web3.

The agency introduced the “Mastercard Artist Accelerator” program through a Jan. 7 weblog put up, outlining that from this spring, it’ll join 5 rising musicians from throughout the globe with mentors that can  assist them arrange their model within the Web3 music house.

“The artists will achieve unique entry to particular occasions, music releases and extra. A primary-of-its-kind curriculum will educate the artists how to construct (and personal) their model by way of Web3 experiences like minting NFTs, representing themselves in digital worlds and establishing an engaged neighborhood,” the put up reads.

The program will culminate with a live-streamed artist showcase later within the 12 months.

Mastercard can be launching a non-fungible token (NFT) assortment known as the “Mastercard Music Pass” for those who aren’t chosen for the program. The goal is to present hodlers with instructional supplies and “distinctive sources” by way of model collaborations to assist budding musicians study concerning the Web3 integrations with the music sector.

Commenting as a part of the announcement, Polygon Studios CEO Ryan Watt famous that “Web3 has the potential to empower a brand new kind of artist that may develop a fanbase, make a dwelling, and introduce novel mediums for self-expression and connection on their very own phrases.”

Polygon seems primed to develop into a hub for music associated Web3 initiatives. On Dec. 6, Cointelegraph reported that international leisure big Warner Music Group had partnered with Polygon Studios and e-commerce and interactive platform builder LGN.io, to construct a Web3 music platform known as LGND Music.

The platform is slated to launch later this month and can enable customers stream music and acquire and commerce music NFTs.

Related: Mastercard provides 7 blockchain startups to its crypto accelerator

Mastercard has been actively furthering its involvement within the blockchain and crypto sectors. In January 2022, Mastercard joined forces with Coinbase to allow the usage of Mastercard playing cards for buying NFTs on Coinbase’s market.

In mid-October 2022, Mastercard partnered with Paxos to enable banks to supply cryptocurrency buying and selling and associated providers to their clients. 

While in that very same month, Cointelegraph additionally reported that Mastercard had launched a crypto fraud safety software enabling  banks to discover and forestall fraud on crypto service provider platforms inside its community.