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Global payments giant mastercard is increasing its blockchain tech exposure once again, after announcing an accelerator program based on polygons to help musicians build their careers through web3.
The society has announced the program "mastercard performer accelerator" via a jan. 7 blog post, outlining that from this spring, it will connect five emerging musicians from across the globe with mentors that will help them set up their brand in the Web3 music space.
"Performers will have exclusive access to special events, concerts and other events. A unique program of studies will teach artists how to build (and own) their brand through web3 experiences such as punching nfts, to represent oneself in virtual worlds and to establish a committed community," reads the article.
The program will conclude with a live presentation of the performers later this year.
We’re excited to grow our music footprint with the launch of the #Web3-based Mastercard Artist Accelerator, announced today at ! The new platform will allow emerging artists to continue their passion and speed up their musical careers. https://t.co/ckwiqCV3Ob
— Mastercard News (@MastercardNews) January 6, 2023
Mastercard also introduces a collection of non-refundable tokens (NTVs) called "Mastercard Music Pass" for those not selected for the program. The aim is to provide hodlers with educational materials and "unique resources" through brand collaborations to help budding musicians learn about the Web3 integrations with the music sector.
Comments in connection with the advertisement, The CEO of Polygon Studios, Ryan Watt, pointed out that Web3 has the potential to empower a new kind of artist who can develop a customer base, earn one's livelihood, and introduce new ways of expressing oneself and connecting in their own words."
Polygon seems ready to become a center for Web3 projects linked to music. On the sixth of December, cointelegraph reported that the global entertainment giant warner music group had established a partnership with polygon and e-commerce studios and lgn.i interactive platform builder, to construct a web3 music platform known as lgnd music.
The platform is scheduled for launch later this month and will enable users to broadcast music and collect and exchange nft music.
Related: Mastercard adds 7 blockchain startups to its crypto accelerator
Mastercard has been actively furthering its involvement in the blockchain and crypto sectors. In January 2022, Mastercard joined forces with Coinbase to enable the use of Mastercard cards for purchasing NFTs on Coinbase's marketplace.
In mid-October 2022, Mastercard partnered with Paxos to allow banks to offer cryptocurrency trading and related services to their customers.
While in that same month, Cointelegraph also reported that Mastercard had launched a crypto fraud protection tool enabling banks to find and prevent fraud on crypto merchant platforms within its network.
