Financial services giant Mastercard is collaborating with Polygon to bring together music artists, their fans, and industry mentors through a Web 3 accelerator program. Mastercard Artist Accelerator will launch in spring 2023 with a live-streamed artists showcase – per the announcement.
The program targets musicians, DJs, and producers with the tools to share their content on Web 3, including minting non-fungible tokens (NFTs). It includes exclusive access to special events and music releases. For the fans, the MasterCard Artist Accelerator features a limited NFT edition dubbed The MasterCard Music Pass, providing users with exclusive Web3 learning resources.
Commenting about the launch during the Consumer Electronics Show, MasterCard Chief Marketing and Communication Officer Raja Rajammanar termed the partnership as an opportunity to nurture budding artists. “Music is a universal passion, inspiring, moving, and bringing us together; however, it can feel impossible for budding artists to break in. With the MasterCard Accelerator, we are expanding access and driving connections further with cutting-edge Web3 technology,” he said.
Polygon Studios, the firm behind Polygon blockchain, is optimistic that the program will empower a new generation of artists using blockchain technology – also educate the public about the technology. ”Web3 has the potential to empower a new type of artists that can grow a fan base, make a living and introduce novel mediums for self-expression and connection on their terms,” CEO Ryan Wyatt said.
The announcement has boosted the price of Polygon’s native MATIC token, up to an intraday high of $0.8104, according to data shared by CoinMarketCap. The price changed by +3% in the past day and +5.79% in the last week. MATIC ranks tenth among other cryptos, with a market capitalization of more than $7 billion.
Mastercard Artist Accelerator is a win for Polygon, one of the fastest blockchains, onboarding major brands like Starbucks, Nike, and Instagram. The blockchain is said to have paid $3m in grants to have Solana NFT projects, y00ts, moved to its platform. Together with DeGods, another NFT platform on Solana, y00Ts generated some of the highest NFT sales on Solana, up to 70%.
