Mastercard, a leading global payments and technology corporation, teamed up with Polygon to introduce a web3-focused incubator at the Consumer Electronic Show (CES) 2023, with the goal of supporting artists in establishing new channels of communication with their audiences. According to a statement from Polygon Studios CEO Ryan Wyatt, the new Mastercard Artist Accelerator project will equip upcoming artists with the web3 tools and skills to enable them to interact with their audience. As a result, artists can maximize their earnings and advertise innovative mainstream products.
The Mastercard artist accelerator initiative will guide the five selected artists on a variety of tasks that will enable them to cut out the middleman, mint their own NFT (non-fungible tokens) collections to increase online fan engagement, and take part in metaverse-based concerts and more, using the Polygon network and the Polygon platform. Mastercard’s chief marketing and communications officer, Raja Rajamannar, emphasized that the company will also offer incubees marketing and technical consultancy assistance.
This announcement indicates that the company is moving further into the world of digital assets. Ryan thinks Web3 has the ability to empower a new breed of artists who can build a following, support themselves, and develop cutting-edge platforms for self-expression and human connection. The Polygon platform was selected as the new program’s technical partner due to its excellent scaling capabilities and prior experience working with top Web3 companies.
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This program’s five participating artists have not yet been chosen, and artists are still welcome to submit their applications. The program will begin in the spring of 2023, and fans will be able to accompany these artists as they travel while working together to understand how these technologies work. The accelerator will contain a special edition NFT from Mastercard called “The Mastercard Music Pass,” which the company claims would grant owners access to unique resources, physical and digital experiences, and exclusive music educational materials. Additionally, the company said that the accelerator program would end with a live-streamed artist presentation later this year.