Mastercard, a leading global financial payment company, made a groundbreaking announcement on January 6, 2023, revealing its plans to launch a web3-focused incubator aimed at supporting artists in connecting with their followers through an innovative medium.
According to Raja Rajamannar, Chief Marketing and Communications Officer at Mastercard, the main objective of this initiative is to equip emerging musicians with the necessary web3 tools and skills to succeed and thrive in the digital economy. By providing access to industry experts and pioneers, artists will receive guidance on integrating web3 technology into their careers both during and after the program.
The Mastercard 2023 Artist Accelerator program will offer resources, knowledge, and networking opportunities to five up-and-coming artists, including musicians, DJs, and producers, enabling them to establish successful careers in the digital realm. Participants will also enjoy exclusive perks such as access to events, new music releases, and more.
Throughout the program, artists will learn how to cultivate their brand using web3 strategies like creating NFTs, building virtual personas, and fostering engaged communities through an innovative curriculum designed to empower creators and engage fans.
The Mastercard Artist Accelerator serves as a platform for content creators to excel and offers fans a unique opportunity to engage in the evolving digital landscape. Additionally, the Mastercard Music Pass, a limited-edition NFT, will provide owners with access to exclusive web3 tools, assets, and immersive experiences within the metaverse.
Mastercard’s collaboration with Polygon, a prominent blockchain platform built on Ethereum, underscores the company’s commitment to advancing in the digital space. Notably, other major brands such as Disney, Starbucks, Prada, and Adidas have also partnered with Polygon to explore NFT projects and innovations within the blockchain ecosystem.
Ryan Wyatt, CEO of Polygon Studios, emphasized the transformative potential of web3 for artists seeking to cultivate their fan base, generate income, and create innovative platforms for self-expression and community engagement. The Mastercard Artist Accelerator initiative demonstrates the business’s embrace of this emerging market and provides valuable resources to customers interested in exploring the benefits of web3 technology.
In addition to its web3 incubator, Mastercard has ventured into the cryptocurrency and metaverse realms by collaborating with crypto-centric companies to launch unique credit cards and partnering with platforms like Coinbase to support the growth of the NFT ecosystem. The company also recently hosted Grammy week in the metaverse alongside Roblox, offering immersive experiences, artist meet-and-greets, and interactive activations for fans to enjoy.
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