Quick take:
- Mastercard has launched its accelerator program for musicians.
- The program was first announced in January this year.
- Mastercard is offering a limited-edition Mastercard Music Pass NFT which will be used to gain access to the program.
Mastercard has launched its accelerator program for music artists. The program was first announced in January this year. On Wednesday, the global financial services company also announced the limited-edition Mastercard Music Pass NFT, which will be used to gain access to the accelerator.
According to the announcement the NFTs will be available to Music and Web3 fans through the end of the month. The NFT music program is being launched in support of emerging artists.
Some of the resources to be offered to artists through the program include “a Web3 platform that gives free access to educational materials, unique AI tools through our collaborations, and Priceless experiences to boost creativity for music artists,” the company wrote in a press release on its website.
Holders of the Mastercard Music Pass NFT can compose a digital collectible inspired by Mastercard’s design principles and sonic melody.
The new program will be offered via the Layer 2 scaling protocol Polygon, which has become the preferred choice of several mainstream brands looking to expand their offerings to Web3.
Mastercard has been one of the most active mainstream financial services providers in web3. Last year, the company teamed up with Coinbase to provide a payment solution that allows Coinbase users to buy NFTs using debit and credit cards.
The Polygon protocol provides infinite scalability allowing Mastercard to offer its accelerator program to a limitless number of Music and Web3 fans.
Commenting on the program launch, Raja Rajamannar, Chief Marketing & Communications Officer and President of Healthcare Business at Mastercard said: “As a company, we hope to help people and partners around the world better understand and trust how blockchain and digital assets are used – and how our technology can support the ecosystem. We also believe that Web3 can be a powerful tool in connecting people and building communities around shared universal passions.”
Mastercard has selected five up-and-coming artists from across genres and geographies, who will be guided by five expert mentors as they experience the AI music studio to get up and running with their content.
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