The Mastercard Artist Accelerator harnesses the power of blockchain

We believe in the potential of Web3.

In recent years, it has been difficult to separate the Web3 signal from the noise. The hype has abounded. Many companies moved in, and in recent weeks some have moved out. But the fact remains that Web3 has very real, powerful potential across industries and business functions.

The pace of change we are seeing in the marketing space is truly extraordinary. Emerging technologies such as AI, 5G and Web3 – the next phase of the internet powered by blockchain technology – are transforming how brands communicate with, serve and build trust with their consumers. And it’s already virtually unrecognizable from the way we connected just a few years ago, let alone a few decades ago.

Not only can these Web3 technologies drive exuberant innovations in virtual, augmented and hybrid realities, but they deliver very simple, real benefits such as greater transparency, more consumer choice, seamless experiences and ownership of digital assets. As a company, we hope to help people, businesses and partners around the world better understand and trust how blockchain and digital assets are used – and how our technology can support the ecosystem.

We also believe that Web3 can be a powerful tool for connecting people and building communities around shared universal passions. Like others, we’re exploring and experimenting with Web3 technology to expand our branding efforts—willing to fail fast, but hoping to succeed. And we take others along on the journey.

Earlier today, we launched a free multi-sensory Mastercard Music Pass NFT that unlocks our Web3 music-focused program, the Mastercard Artist Accelerator. It connects musicians to their passion for music and gives them opportunities to create, collaborate and monetize their work while retaining control over it.

In addition to the thousands of people who have signed up for the program so far, we have invited five artists from regions around the world to share their journey with us. They will be guided by five expert mentors,and throughout the program, artists will be given tips and tricks for using blockchain to monetize their work and build a community of fans. Artists and fans will also learn how to harness the potential of new AI tools as part of their creative process, using leading AI music technology fromWarpSound.

The potential of Web3 to fulfill its promise of opportunity and inclusion for all depends on whether people will embrace it. That’s why it’s important for trusted brands to experiment responsibly in the space and push ourselves and our partners to leverage new technologies in ways that are meaningful to people.

Innovating with purpose is always the goal, but innovating for passion is where true impact resides.