Mastercard and Polygon to Launch Mastercard Artist Accelerator Program

Mastercard and Polygon to Launch Mastercard Artist Accelerator Program

The Mastercard Artist Accelerator program is set to help emerging artists build their careers using Web3.

Mastercard, the second-largest payment-processing corporation worldwide, has partnered with blockchain platform Polygon to launch the Mastercard Artist Accelerator program.

According to the announcement shared on January 6th, the Mastercard Artist Accelerator program will work on connecting a handful of artists “to notable mentors and a dynamic fanbase as they learn and create in Web3.”

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Mastercard aims to launch its Mastercard Artist Accelerator program in spring 2023.

The program will prepare five emerging artists, giving them tools, skills and access to explore their musical paths in the digital economy. On top of that, the announcement noted:

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.

Moreover, along with the Mastercard Artist Accelerator program, Mastercard is launching a limited edition non-fungible token (NFT) collection called the Mastercard Music Pass. The holders of NFTs will be able to access “Web3 x Music educational materials” and other resources.

When talking about the project, Mastercard Chief Marketing and Communications Officer, Raja Rajamannar, stated:

With the Mastercard Artist Accelerator, we are expanding access and driving connections further with cutting-edge Web3 technology. 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.

Based on the announcement, the program will conclude with a live-streamed artist showcase, which is expected to go live later this year.

Mastercard partnered with the blockchain platform Polygon to "power fan-driven artist experiences." When talking about the collaboration, the Polygon Studios CEO, Ryan Wyatt, noted:

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. This is an important step forward in opening up the benefits of Web3 to more people.

It is not the first time Polygon has joined music-related projects. At the beginning of December, Polygon joined forces with a blockchain-based e-commerce platform, and Warner Music Group (WMG) to launch a Web3 music platform called LGND Music.

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree