Mastercard has entered into a collaboration with Polygon to provide a platform for upcoming musical artists.
The payment giant is aiming to effectively adapt to Web3 by launching the Mastercard Artist Accelerator Program in spring 2023.
The program will offer a wide range of services for musical artists of all genres, such as training in blockchain technology and support in creating their own personal brands via NFTs and metaverse.
Mastercard has been supporting the music industry for a while now, sponsoring GRAMMY awards and even hosting the first GRAMMY week in the metaverse with Roblox. With the launch of the Artist Accelerator Program, the payment provider is looking to extend its presence in the music industry.
Raja Rajamannar, Chief Marketing and Communications Officer at Mastercard, has articulated that music is an integral part of all our lives, connecting us and inspiring us. However, it can be difficult for budding artists to get recognition and make a name for themselves. To tackle this issue, Mastercard has introduced the Artist Accelerator, which will leverage the potential of Web3 technology and open up pathways for aspiring music personalities.
The speculation of a physical card from Mastercard with an image of an NFT has been gaining traction. Timex, a renowned watchmaker, has also released 500 watches featuring the NFTs of Bored Ape Yacht Club and Mutant Ape Yacht Club.
These developments are indicative of Mastercard’s commitment to adapting to the changing times and keeping up with the technological advancements. The payment processing giant is striving to stay ahead of the game by incorporating the latest technology, Web3, in its Artist Accelerator. This marks a major shift in the industry, as it signals a shift towards a decentralized system, which could potentially disrupt companies like Visa and Mastercard.