Mastercard Employs Polygon for Web3 Music Accelerator Program

Payments giant Mastercard has expanded its reach in the blockchain sector again, this time by launching a spotlight program for emerging musical artists built atop the Polygon blockchain.

Mastercard announced the Mastercard Artist Accelerator program – a spotlight program for emerging musical artists to help up-and-coming creators tap into the power of Web3 and blockchain technology. The program will kick off in spring 2023 and will prepare five emerging musical artists, with the skills, access, and tools to pave their own musical paths in the digital economy. Mastercard announced the program on January 7 via a blog post that reads:

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.

Raja Rajamannar, Mastercard’s Chief Marketing, and Communications Officer said:

The core of this program is providing emerging artists with the web3 tools and skills they need to excel and advance their music careers in this digital economy.

Mastercard has tapped the Polygon blockchain for its latest venture – a scaling blockchain built on Ethereum. Polygon Studios CEO Ryan Watt commented on the announcement saying:

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. The Mastercard Artists 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.

Mastercard Embraces the Blockchain Space

Mastercard has been very busy expanding its reach into the world of cryptocurrencies and blockchain technology. Most recently the company launched a program that allows mainstream banks to offer crypto trading to their customers. The payments giant also announced a collaboration between itself and Binance in Argentina. The two companies launched a prepaid reward card to help people spend crypto on everyday goods and will allow users to buy things and pay bills with Bitcoin and other cryptocurrencies at more than 90 million merchants.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.