Payment giant Mastercard is partnering with Ethereum scaling platform Polygon to introduce emerging artists to Web3 technology. Mastercard’s Artist Accelerator, as it is called, will teach five different emerging artists, including singers, musicians, DJs, and producers, how to use blockchain tools to grow their brands and fan engagement.
Mastercard partners with Polygon to teach Web3
Traditional financial companies are now looking to harness the power of blockchain for myriad activities across a variety of sectors. Mastercard, one of the largest payment companies, has partneredwith Polygon, an Ethereum scaling platform,to introduce five different emerging artists to the possibilities that Web3 technology can bring to their activities.
The Mastercard Artist Accelerator Program uses Polygon’s network to give selected artists the opportunity to cut out the middleman, cast their own non-fungible tokens (NFT) collection, and They will be taught how to expand their online fan engagement and engage in a series of activities that will allow them to participate in metaverse-based concerts and other activities.
Autonomy and freedom seem to be one of the biggest goals of this program, and the two companies have prepared a so-called “world-first curriculum” for this task. In this regard, Ryan Watts, CEO of Polygon Studios, stated.
Web3 has the potential to empower a new type of artist who can grow their fan base, earn a living, introduce a new medium for self-expression, and connect on their own terms.
Web3 and Music
Mastercard’s relationship with music is quite old, the company is currently an official sponsor of the Grammy Awards and has dabbled in music production, launching its ownrecordin 2022. The significance of decentralized technology is clear for Mastercard, which seeks to empower new artists in the ecosystem to reach relevance on their own.
“Music is a universal passion that inspires, moves, and unites us. But sometimes it feels impossible for emerging artists to break through,” said Mastercard CMO Raja Rajamannar, reinforcing the relevance of these technologies for artist development today.
The five artists eligible for the program have yet to be determined and artists can still announce their applications. The program is scheduled to launch in the spring of 2023, and fans will be able to join these performers along the way and team up to learn how these tools work.
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