Mastercard Launches Web3-Powered Music Artist Development Program

Mastercard has announced a new music artist mentoring and development, the Mastercard Artist Accelerator, which will be powered by Web3 technologies on the Polygon blockchain. The company has been getting more and more involved with the music industry in recent years — including releasing an album last summer featuring artists around the world and incorporating its sonic sound — and this is the latest step it is taking to support emerging artists.

The goal of the Artist Accelerator will be to connect select artists from around the world with mentors and fans and allow them to experiment with Web3 capabilities. The program will officially launch in the spring and will then culminate with a livestreamed artist showcase later in the year.

Mastercard has shared that five emerging artists, including musicians, DJs, and producers, will participate in the program and will be given the tools and access to “forge their own musical paths in the digital economy.” They will have access to exclusive events and music releases, and will learn how to build their brands from a Web3-based curriculum, including topics such as minting NFTs and representing themselves in virtual worlds.

“With the Mastercard Artist Accelerator, we are expanding access and driving connections further with cutting-edge Web3 technology,” said Raja Rajamannar, Mastercard Chief Marketing and Communications Officer. “Our vision is to bridge passion and purpose, spotlighting amazing emerging artists and creating an interactive community that allows participants to learn, experiment and grow together.”

Ryan Wyatt, CEO of Polygon Studios, added, “Web3 has the potential to empower a new type of artist that can grow a fanbase, make a living, and introduce novel mediums for self-expression and connection on their own terms. The Mastercard Artist Accelerator not only shows the power of brands embracing this new space, it provides tools that can educate consumers on how to participate. This is an important step forward in opening up the benefits of Web3 to more people.”