- Mastercard has partnered with Polygon to create a new Web 3.0 accelerator program for musicians
- The program helps musicians build a presence in the Web 3.0 space
- The program will also educate upcoming musicians on things like digital collectibles and how to engage with their fans
Payments heavyweight Mastercard has partnered with Polygon to help musicians take their craft to the Web 3.0 community. Dubbed the Mastercard Artist Accelerator program, the payments giant will also educate upcoming musicians on various Web 3.0-related topics such as NFTs and how to engage fans in the virtual world. The announcement comes roughly a year after the payments giant partnered with Coinbase to allow Mastercard card holders to buy digital collectibles directly from Coinbase NFT.
From Musicians to Music Producers and DJs
In a blog post, the payments giant said the program will help connect “artists with mentors and fans.” To accommodate more participants, Mastercard revealed an upcoming NFT collection that will give holders access to perks only available to participants of its accelerator program. According to the payments heavyweight the program will concentrate on providing educational materials and meaningful collaborations to help participating artists establish themselves in the digital space.
Commenting on the development, Polygon CEO Ryan Watt said that the virtual world can be a source of livelihood for a breed of artist who wants to define how they express themselves. According to Mastercard, the accelerator program will feature musicians, music producers and DJs with their fans enjoying a piece of the action through the exclusive Mastercard Music Pass NFTs.
Exclusive Access to Materials in the Metaverse
The limited edition digital collectibles will “give holders access to the exclusive Web 3 x Music educational materials and unique resources” both in real life and the metaverse.
Mastercard’s new program comes at a time when the payments heavyweight is ramping up its efforts in the cryptocurrency and blockchain space such as the recent launch of an institutional crypto trading platform and a cryptocurrency fraud protection tool.
Its rival PayPal is also making significant strides in the space, an indication that traditional payment processors are slowly embracing crypto and the financial possibilities in the virtual world.