Mastercard announced a Polygon-based accelerator program to assist musicians to expand their careers via Web3.
The company introduced the "Mastercard Artist Accelerator" program in a blog post on Jan. 7.
Mastercard is also offering an NFT collection called the "Mastercard Music Pass" for people who were not chosen for the program.
The company introduced the "Mastercard Artist Accelerator" program in a blog post on Jan. 7. The company noted that starting this spring, it will connect five new musicians from across the world with mentors who will help them build their brand in the Web3 music sector.
"The artists will have exclusive access to special events, music releases, and other opportunities. A one-of-a-kind program will teach the artists how to build their brand through Web3 experiences such as minting NFTs, representing themselves in virtual worlds, and establishing an active community," the post reads.
Later in the year, the program will conclude with a live-streamed artist exhibition.
Mastercard is also offering a non-fungible token (NFT) collection called the "Mastercard Music Pass" for people who were not chosen for the program. The goal is to supply hodlers with instructional materials and "unique resources" through brand collaborations to enable aspiring musicians to learn about Web3 integrations with the music sector.
Polygon Studios CEO Ryan Watt stated as part of the announcement that Web3 has the ability to empower a new sort of artist who can create a fanbase, make a living, and introduce fresh media for self-expression and connection on their own terms.
Polygon appears to be on track to become a hotspot for music-related Web3 projects. As CoinGabbar earlier reported, global entertainment behemoth Warner Music Group had joined with Polygon Studios and e-commerce and interactive platform builder LGN.io to create LGND Music, a Web3 music portal.
The program, 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 presence in the blockchain and cryptocurrency sectors. In January 2022, Mastercard partnered with Coinbase to allow Mastercard cards to be used to purchase NFTs on Coinbase's marketplace.
In mid-October 2022, Mastercard teamed with Paxos to enable banks to offer cryptocurrency trading and related services to their users.