Mastercard announced Friday at the Consumer Electronics Show in Las Vegas, Nevada that it will use the Polygon blockchain to launch its Mastercard Artist Accelerator.

The program is designed to help music artists learn how to expand their brands by minting NFTs, building an online presence, and establishing a community. While Mastercard has yet to say who will participate in the accelerator, the company said the accelerator will end later this year with a live-streamed artist showcase.

Mastercard says the goal is to create a space for the creation, collaboration and ownership of music content, using the accelerator to connect artists from around the world with mentors on Web3.

“Starting in spring 2023, the Mastercard Artist Accelerator will equip five emerging artists, including musicians, DJs, producers, with the tools, skills and access to forge their own musical paths in the digital economy,” Mastercard said in a press release. . launching.

According to Mastercard, the accelerator will include a limited edition NFT called “The Mastercard Music Pass,” which the company says will give holders access to exclusive music educational materials, unique resources, and other physical and digital experiences.

NFTs are blockchain-based tokens tied to digital and physical content, providing proof of ownership, authenticity, or membership in a group. NFTs have also been a lucrative side project for musicians in the past.

In March 2021, singer-songwriter Grimes sold a collection of visual art for more than $6 million. That same month, EDM musician 3LAU made $11 million selling one album as 33 NFT singles. DJ Steve Aoki said in February of last year that he made more money from NFTs than he did from 10 years of music previews of his.