Mastercard Taps Polygon to Empower Emerging Artists in Web3 Tech – Blockchain Bitcoin News
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Mastercard, the payments giant, has partnered with Polygon, an Ethereum scaling platform, to introduce emerging artists to Web3 technology. Mastercard’s Artist Accelerator, as the program is called, will teach five different emerging artists, including singers, musicians, DJs and producers, to use blockchain tools to grow their brand and fan engagement.
Mastercard partners with Polygon to teach Web3
Traditional financial companies are now looking to utilize the power of blockchain for countless functions in various industries. Mastercard, one of the largest payments companies, has partnered with Polygon, the Ethereum scaling platform, to showcase five different emerging artists on the possibilities that Web3 technology can bring to their operations.
Mastercard’s artist accelerator program uses the Polygon network to teach selected artists a series of activities that allow them to cut out middlemen, create their own NFT (non-fungible tokens) collections to increase online fan engagement, and be present at metaverse-based concerts, among other things.
Independence and freedom seem to be one of the biggest goals of the program, and two companies have drawn up the so-called of “first quality curriculum” for this task. Polygon Studios CEO Ryan Watts had this to say:
Web3 has the potential to empower a new type of artist who can grow a fan base, make a living, and introduce new tools for self-expression and communication on their own terms.
Web3 and music
Mastercard’s relationship with music goes back a long way, as the company is currently an official sponsor of the Grammys and has even dabbled in music production, releasing its own album in 2022. The importance of decentralized technology is clear to Mastercard, as it aims to empower new artists in the ecosystem to make their mark on their own .
“Music is a universal passion that inspires us, moves us and brings us together; However, it can seem impossible for budding artists to break in,” said Raja Rajamannar, Market Director of Mastercard, confirming the importance of these technologies for the development of today’s artists.
The five artists participating in the program have not yet been selected, and artists can still submit their applications. The program is set to begin in the spring of 2023, and fans can also join these performers along the way to learn how these tools work.
What do you think of Mastercard’s artist Web3 program and Polygon’s involvement? Let us know in the comments section below.
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