Manu Manzo, a Venezuelan Latin pop musician, and Young Athena, an R&B soul singer, are among the artists Mastercard has already announced. Following the release of the NFT, three more artists will be named.
The NFT, dubbed “Mastercard Music Pass,” portrays a circuit board bursting with Mastercard-branded colors, with the words Music Pass placed beneath the Mastercard logo on a dark background. It will be a limited edition and minted on the Polygon blockchain.
The digital collectible will be released in mid-April 2023, allowing fans to purchase it and participate in the program — unlocking exclusive content and learning alongside artists. In addition, fans will be able to redeem the music tracks generated through the Accelerator program as NFTs.
The Mastercard Artist Accelerator aims to introduce young music artists to the Web3 world, enabling them to become familiar with the technology and tools that can support them in getting noticed and building a brand in the virtual world.
This is only the most recent Web3 initiative taken by Mastercard. Last November, the firm submitted a trademark application to provide crypto transaction security services.
In October, Mastercard introduced Crypto Source, a new program that allows financial institutions to offer secure crypto trading capabilities and services to their customers, while in September, the company participated in the Dubai Metaverse Forum, an event focused on exploring the opportunities of the metaverse.