Mastercard is now working on a new Web3 artist accelerator that will connect musicians, creators and fans to create a new experience. The goal is to build an artist accelerator that is easy to use so everyone can participate. To build the accelerator’s Web3 platform, Mastercard is now partnering with Polygon, one of the largest blockchain networks on the market.

Polygon and Mastercard work together in a Web3 incubator

in a recent advertisement made by Mastercard, they announced that there is a new Web3 Artist Accelerator that they are working on together with Polygon, one of the most trusted blockchain networks in the world. According to the announcement, users will experience the freedom of digital ownership and will be able to learn from music professionals and Web3 innovators.

The goal is to use this platform and equip five emerging artists with the tools, skills, and access to forge their own paths in the digital economy. There will be multiple ways for them to build their brand, from minting non-fungible tokens (NFTs) to creating virtual representations of themselves.

NFTs became very popular in 2021 when they were traded on multiple platforms and allowed users to own digital goods, especially pieces of art or images.

This project is expected to start as early as Spring 2023. Users can also stay updated on this project and receive the latest information and announcements for this project.

Raja Rajamannar, Director of Marketing and Communications at Mastercard commented in this project:

“The core of this program is to provide emerging artists with the web3 tools and skills they need to excel and advance their music careers in this digital economy. By providing access to experts and innovators in the space, artists will receive guidance on how to incorporate web3 into their work throughout the program and beyond.”

Polygon (MATIC) is the 10th largest cryptocurrency in the world. This digital asset is on the same level as other big and popular coins like Cardano (ADA), Dogecoin (DOGE) or XRP. According to CoinGecko, Polygon has a price per coin of $0.80 and a market capitalization of $7.2 billion.

This digital asset would likely be used within the Mastercard project and could play a key role when it comes to user engagement. Users can buy NFTs and interact with their favorite artists by using MATIC tokens. This is one of the easiest ways for them to access the platform and participate in this new project presented by Mastercard.

It’s also worth noting that Mastercard is starting this project in a bear market. This is somewhat surprising when you consider that there will likely be fewer users involved in this new project compared to what might have happened in an uptrend. This also shows that Mastercard and Polygon are working to offer better solutions and services to users rather than just working on marketing projects in bull markets.