March 22, 2023

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Mastercard, a worldwide giant in the payments sector, is boosting its exposure to blockchain tech for another time. The platform has now declared an accelerator project based on Polygon to assist musicians in establishing their livelihoods through the Web3 world3 sector.

The company declared the launch of the “Mastercard Artist Accelerator” project in a blog post published recently.

Mastercard Joins Polygon to Release Web3-based Accelerator Project for Musicians

As per Mastercard, the project will be initiated in this year’s spring and will link 5 struggling musicians around the world with mentors. In this way, they will get assistance in establishing their forums in the world of Web3 technology.

It is noted in the post that the artists will obtain special access to exclusive music releases, events, and so on. In addition to this, a unique type of curriculum will be provided to the artists, letting them know about the brands.

The post also mentions that they will be able to introduce themselves in the Web3-based virtual spaces as well as develop an engaged community. The project will be completed with a live-streamed showcase of the artists later in 2023. The payment company is in advance introducing an NFT collection named “Mastercard Music Pass.”

This series is for people who are not chosen for the project. The target of this collection is to give educational materials as well as exclusive resources to the hodlers via brand partnerships.

This would assist new musicians in getting knowledge about the integrations of Web3 into the music world. Ryan Watt, the CEO of Polygon Studios, provided his remarks during the announcement.

He stated that the Web3 sector has the potential to back a unique artist type that can develop a fanbase along with earning revenue as well as presenting unique means to express themselves. Polygon appears to be the prominent center for Web3 projects dealing with the music industry.

On the 6th of December, the worldwide entertainment platform “Warner Music Group”, Polygon Studios, and (an entity that builds interactive and e-commerce-based platforms) joined up.

The Payment Giant Keeps on Expanding Its Partnership Spree amid Bear Market

The purpose of that collaboration was to construct LGND Music (a music platform based on Web3 technology). The respective platform Is scheduled to be introduced later in January 2023.

It will permit the customers to stream music along with trading and collecting music NFTs. For a considerable period, Mastercard has been keenly focused on expanding its progress in the crypto and blockchain spaces.

Back in January 2022, the platform started a partnership with Coinbase. This was to permit the consumers to utilize the cards developed by Mastercard for NFT purchases on the marketplace of Coinbase.

Then in 2022’s October, Mastercard began a partnership with Paxos while aiming to permit the banking institutions to provide crypto trading as well as the other services linked to it to their consumers.

It was the in same month when the reports pointed out that the payments company had introduced a unique instrument that would protect against fraud in the crypto space.

The respective instrument was highly useful for banking organizations. With that tool, the banks were enabled to detect crypto fraud. After identifying the malicious activities in the ecosystems of the merchant platforms, they could also put a stop to such activities.

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