Mastercard has unveiled the “Mastercard Artist Accelerator” program, a Web3-based initiative that aims to support musical artists in the digital world.
Starting this spring, the program will provide five artists–such as musicians, DJs, and producers–with the tools and skills necessary to establish their brand and create music within Web3.
As part of the program, participants will learn how to mint NFTs, introduce and represent themselves within the metaverse, and interact with virtual communities.
While the Mastercard Artist Accelerator will focus on supporting selected artists, it will also open doors for fans: the Mastercard Music Pass, an NFT, will give them access to Web3 x Music educational materials, as well as exclusive experiences – both in-person and virtual reality.
The scalability and low gas fees of the Polygon blockchain were key factors in Mastercard’s decision to use it for the NFT pass and to empower artists within Web3.
The program extends Mastercard’s involvement in Web3 so far. Last June, it partnered with Coinbase and order NFT marketplaces and Web3 providers to allow users to purchase NFTs using their Mastercards.
In July Mastercard partnered with The City of Miami, TIME, and Salesforce to launch a new NFT initiative to drive revenue to local businesses and non-profits.
More recently, in November, Mastercard filed a trademark application to provide security services relating to crypto transactions.