Payments giant Mastercard has partnered with Polygon, a Level-2 scaling platform built on Ethereum, to introduce emerging artists to Web3 technology.
Mastercard’s program is called “artist accelerator” and aims to teach five emerging artists – including singers, musicians, DJs and producers – how to use blockchain tools to grow their brand and fan loyalty.
They seek to leverage the blockchain
In recent times we’ve seen traditional financial companies seeking to harness the power of blockchain for a myriad of activities in different sectors.
Mastercard, one of the largest payment companies, will be partnering with Polygon to introduce five emerging artists to the possibilities that Web3 technology can offer, so that they can leverage it in relation to their activities.
Mastercard’s “artist accelerator program” will use Polygon’s network to teach the selected artists how to perform a series of activities that will allow them to break partnerships with intermediaries by creating their own collections of NFT (non-fungible tokens).
Read Also: Polygon prepares to host a Web3 music platform with Warner Music Group Involved In
Autonomy and freedom
Autonomy and freedom seems to be one of the biggest goals of the project. Mastercard and Polygon have prepared a so-called “first of its kind curriculum”.
About this, Ryan Watts, CEO of Polygon Studios, said:
“Web3 has the potential to empower the new type of artist who can develop a fan base, introduce new means of self-expression and a connection on their own terms.”
Web3 and music
The relationship between Mastercard and music goes way back, as the company is an official sponsor of the Grammys and has even gotten involved in music production, launching its own album in 2022.
The importance of decentralized technologies to Mastercard is clear, as it seeks to use them to empower young artists to reach success on their own.
“Music is a universal passion, it inspires us, moves us and brings us closer together. However, it can make budding artists feel like it is impossible to break into the industry,” said Raja Rajamannar, CMO, Mastercard, reinforcing the importance of these technologies for the development of today’s artists.
The five artists who will be eligible for this programme are yet to be selected as the application process is still ongoing.
The program is expected to begin in spring 2023.
Polygon got Solana’s best NFTs projects
In another matter, as revealed DeLabs – the startup behind Solana’s top NFTs ecosystem collections, DeGods and y00ts – received a $3 million grant to bring y00ts to Polygon.
According to a statement posted on Discord by the company’s founder Frank – aka Rohun Vora – DeLabs will put the funds towards the effort to support its ecosystem as it relates to NFTs.
Read Also: Y00ts and DeGods Are Leaving Solana
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