Payments giant Mastercard has partnered with Polygon, a scalable Ethereum platform, to introduce emerging artists to Web3 technology. The Mastercard Artist Accelerator, as the program is called, will teach five different emerging artists, including singers, musicians, DJs, and producers, how to use blockchain tools to grow their brand and fan engagement.

Mastercard partners with Polygon to teach Web3

Traditional financial companies are now looking to harness the power of blockchain for a wide variety of activities in different fields. Mastercard, one of the largest payment companies, partnered with Polygon, an Ethereum scaling platform, to introduce five different emerging artists to the possibilities that Web3 technology can bring to their businesses.

Mastercard’s Artist Accelerator Program will use the Polygon network to teach selected artists how to perform a series of activities that will allow them to cut out the middlemen, build their own NFT (non-fungible token) collections to increase their fan engagement at line and being present at concerts based on metaverses, among others.

Autonomy and freedom seem to be one of the most important goals of the program, and the two companies have prepared the so-called “first of its kind curriculum” for this task. On this, Ryan Watts, CEO of Polygon Studios, stated:

Web3 has the potential to empower a new type of artist who can grow a fan base, earn a living, and introduce novel means of self-expression and connection on their own terms.

Web3 and Music

The relationship between Mastercard and music goes back a long way, as the company is currently an official sponsor of the Grammys and has even dabbled in music production, releasing its own album in 2022. The importance of decentralized technologies for Mastercard is clear, as it seeks to empower new artists in the ecosystem to achieve relevance on their own.

“Music is a universal passion that inspires us, moves us and unites us; however, it may seem impossible for budding artists to break in,” said Raja Rajamannar, CMO of Mastercard, reinforcing the relevance of these technologies for the development of today’s artists.

The five artists who will be able to participate in this program have not yet been selected and artists can still apply. The program is scheduled to kick off in spring 2023, and fans will also be able to join these artists along the way, teaming up to learn how these tools work.

What do you think about Mastercard’s Artist Web3 program and Polygon’s involvement? Tell us in the comment section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as someone who was late to the game, entering the cryptosphere when the price spike occurred in December 2017. With a background in computer engineering, living in Venezuela and being impacted by the rise of cryptocurrencies on a societal level, offers a different point of view. about the success of cryptocurrencies and how he helps the unbanked and underserved.

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