Payments giant Mastercard has teamed up with Ethereum scaling platform Polygon to introduce emerging artists to Web3 technology. The artist accelerator program, run by Mastercard, will instruct five emerging artists in the use of blockchain tools to enhance their brand and fan engagement, including singers, musicians, DJs, and producers.
Mastercard Partners With Polygon to Teach Web3
As traditional finance companies explore the potential of blockchain for a variety of applications, Mastercard has joined forces with Ethereum scaling platform Polygon to expose five emerging artists to the opportunities offered by Web3 technology.
Through the Mastercard artist accelerator program, the selected artists will learn how to utilize the Polygon network to cut out the middleman, mint their own non-fungible token collections to increase online fan engagement, and participate in metaverse-based concerts, among other activities. These tools will allow the artists to take full advantage of the possibilities offered by Web3 technology.
Autonomy and freedom seem to be one of the biggest goals of the program, and the two companies shave prepared a so-called “first-of-its-kind-curriculum” for this task. About this, Ryan Watts, CEO of Polygon Studios, stated:
Web3 has the potential to empower a new type of artist that can grow a fanbase, make a living, and introduce novel mediums for self-expression and connection on their own terms.
Web3 + Music
Mastercard has a long history with the music industry, currently serving as an official sponsor of the Grammys and even releasing its own record in 2022. The company’s partnership with Polygon and focus on decentralized technologies highlights its commitment to empowering new artists in the ecosystem to achieve success on their own.
“Music is a universal passion, inspiring us, moving us, and bringing us together; however, it can feel impossible for budding artists to break in,” stated Raja Rajamannar, Mastercard CMO, reinforcing the relevance of these technologies for the development of today’s artists.
The five artists who will participate in the program have not yet been chosen, and applications are still being accepted. The program is set to begin in spring 2023, and fans will have the opportunity to learn alongside the performers as they explore the capabilities of these tools. This is a unique opportunity for emerging artists to gain valuable skills and insights that will help them succeed in the industry.
Joy Rice is a computer science graduate and crypto writer with a strong understanding of blockchain technology. She writes about the latest developments in the crypto industry, and is passionate about educating and informing readers about the potential uses of blockchain.