• Mastercard has partnered with Polygon, an Ethereum scaling platform, to introduce five emerging artists to Web3 technology.
• The Mastercard artist accelerator program will use the Polygon network to teach the selected artists how to mint their own NFTs, be present in metaverse-based concerts, and more.
• Autonomy and freedom are the biggest goals of the program, as it seeks to empower artists to grow their fan engagement and make a living on their own terms.
Mastercard, one of the world’s largest payments companies, has just announced a new partnership with the Ethereum scaling platform, Polygon. The collaboration between the two companies is set to introduce five different emerging artists, including singers, DJs, musicians, and producers, to the possibilities that Web3 technology can bring.
As part of the project, Mastercard has created an artist accelerator program that will use Polygon’s network to teach the selected artists a series of activities that will allow them to cut the middleman and gain more autonomy and freedom. This includes the ability to mint their own NFT (non-fungible tokens) collections to grow their online fan engagement, and be present in metaverse-based concerts. As 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.”
The importance of the partnership between Mastercard and Polygon is that it is seeking to make it easier for emerging artists to make a living through their art. This is especially important in a time where the music industry has been heavily impacted by the COVID-19 pandemic, with many concerts and shows canceled due to health guidelines.
The collaboration between Mastercard and Polygon is not a surprise as the company has had a long-standing relationship with music. It is currently an official sponsor of the Grammys and even launched its own record label in 2022.
The Mastercard artist accelerator program is a great way to empower emerging artists and help them become autonomous and independent. It is a great step forward in the world of Web3 technology, and will surely help artists grow their fan engagement and make a living on their own terms.