Mastercard's NFT-Driven Accelerator Empowering Music Artists

Mastercard is one of the largest global technology companies in the payment industry. Recently, Mastercard has announced its biggest Artist Accelerator Program which is specially conducted for musicians. It is a completely different move from MasterCard. The biggest twist is, The Artist Accelerator Program is completely run using Web 3 technologies. And the main thing about Mastercard is, it allows the fans to its musical program only those who had their very own Mastercard Music Pass NFT. So fans can enjoy the program by keeping Mastercard’s Music Pass NFT.

NFTs are revolutionizing the music industry by making it possible for musicians to monetize their work in a way that was previously impossible. Once a musician creates an NFT, they can sell it to their fans as a unique virtual asset. Fans then have the option to collect and trade these assets, creating a whole new world of value for musicians and fans alike.

The artist accelerator program is collaborating with Polygon and offers free access to educational materials, unique artificial intelligence (AI) tools, and other experiences. The program provides valuable tools, mentorship, and resources to up-and-coming musicians, enabling them to thrive in the current digital economy.

Raja Rajamannar, chief marketing and communications officer of Mastercard, said programs like this are in place to help users “better understand and trust how blockchain and digital assets are used.”

Also, he completely agrees and believes in Web 3 because of its excellent features and benefits. It creates a new world of the internet compared to Web 2 and makes people grow faster in this digital world. By focusing on all those things, Mastercard initiates its Artise Accelerator Program completely on Web 3.

For this mega musical program, Mastercard was already picked five artists from around the globe to make this program more enthusiastic.  In addition to Web3 technologies, the artists will be exposed to a new AI-driven music studio. 

This development from Mastercard comes less than two months after both it and Visa announced that they would be pulling back on all new crypto and blockchain partnerships. The financial service providers said that all new launches would be delayed until improved market conditions are visible, along with a clearer, more established regulatory framework.

In Conclusion, Mastercard takes a very big step in the music industry which is very helpful for musicians, artists, and so on. By providing musicians with the tools, resources, and mentorship they need to create and monetize NFTs.

Originally Published By: Cointelegraph