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Mastercard, the payments giant, has partnered with Polygon, an Ethereum scaling platform, to introduce new artists to Web3 technology. Mastercard’s Artist Accelerator, as the program is called, will teach five different emerging artists, including singers, musicians, DJs and producers, to use blockchain tools to grow their brand and fan engagement.
Traditional financial companies are now seeking to harness the power of blockchain for a myriad of activities in different fields. Mastercard, one of the largest payment companies, has partnered with Polygon, an Ethereum scaling platform, to introduce five different new artists to the possibilities that Web3 technology can bring to their activities.
The Mastercard Artist Accelerator Program will use the Polygon network to teach the selected artists how to perform a series of activities that will allow them to cut out the middleman, create their own NFT (Non-Fungible Tokens) collections to increase fan engagement online, and be present in, among other things, metaverse-based concerts.
Autonomy and freedom appear to be one of the biggest goals of the program, and the two companies have prepared a so-called “first-of-its-kind curriculum” for this task. Regarding this, Ryan Watts, CEO of Polygon Studios stated:
Web3 has the potential to empower a new breed of artists who can grow a fan base, make a living, and introduce new media for self-expression and connection on their own terms.
Mastercard’s relationship with music goes back a long way, as the company is currently an official sponsor of the Grammys and has even dabbled in music production, launching its own record label in 2022. The importance of decentralized technologies to Mastercard is clear, as it seeks to empower new artists in the ecosystem to reach relevance on their own.
“Music is a universal passion, which inspires us, moves us and brings us together; but it can feel impossible for budding artists to break in,” says Raja Rajamannar, Mastercard CMO, reinforcing the relevance of these technologies to the development of today’s artists.
The five artists who will be able to participate in this program have still not been selected, and artists can still submit their applications. The program is slated to launch in the spring of 2023, and fans will also be able to join these artists on the road, teaming up to learn how these tools work.
What do you think of Mastercard’s artist Web3 program and Polygon’s involvement? Tell us in the comments section below.
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