Payments giant Mastercard has announced the launch of a Web3 incubator to help musicians in partnership with Polygon (MATIC).
According to Raja Rajamannar, Director of Marketing and Communications at Mastercard, the essence of the program is to provide aspiring artists with the tools and skills necessary to successfully develop and advance their music careers in the digital economy.
“We see that Web3 opens up huge opportunities for artists and creators to create, own and monetize their content, but only if they know how to use it.. Participants of the program will receive instructions on how to implement blockchain tools in their work throughout the program,” he comments.
Mastercard Expands Web3 Presence
Mastercard's latest statement confirms plans to expand the company's presence on Web3. But this is not the payment giant's first step into the digital world.. In December 2022, he entered into a partnership with Coinbase and launched an NFT debit card, and a couple of months before that, he launched cryptocurrency-linked payment cards with BitOasis.
Source: Grammys
Mastercard has also hosted several Grammy Awards events in the Roblox metaverse.. According to Rajamannar, this was a watershed moment that allowed the company to explore new marketing opportunities and draw many parallels between the real and digital worlds..
More and more companies choose Polygon
Polygon also announced their collaboration with Mastercard on their blog. According to the post, the Mastercard Artist Accelerator program will prepare five emerging artists – musicians, DJs and producers – and give them exclusive access to special events and releases..
“Web3 has the potential to create a new breed of artist who can grow a fanbase, make a living, and innovate new means of expression and connection on their own terms.. The Mastercard Artist Accelerator not only demonstrates the power of brands embracing this new space, it also provides the tools to help artists become part of it.. This is an important step forward in bringing the benefits of Web3 to more people,” says Polygon Studios CEO Ryan Wyatt.
Source: Twitter
Over the past year, Polygon has made significant strides in the Web 2.0 industry. Social platform Reddit has used blockchain to mint unique NFT avatars, Starbucks has partnered with Polygon to develop a loyalty program called Starbucks Odyssey, and Warner Music has launched LGND Music, an NFT music platform. Well-known brands such as Prada and Adidas have also introduced digital clothing collections on the Polygon blockchain.
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