Mastercard to distribute “Mastercard Music Pass NFT” for new artists in the music industry

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Supporting musicians with Web3 programs

Payment major Mastercard announced on the 12th that it will provide NFTs (non-fungible tokens) free of charge until the end of this month, enabling access to the Web3 music program “Mastercard Artist Accelerator” program to support up-and-coming musicians. bottom.

The Artist Accelerator program is based on the Polygon (MATIC) blockchain.

connection:Mastercard Announces Music NFT Accelerator, Adopts Polygon

“Mastercard Music Pass NFT” can be acquired not only by musicians but also by music fans and anyone interested in Web3. Acquisition of this NFT will give access to the Artist Accelerator platform, which offers unique Web3 music tools and teaching materials, as well as shared experiences with mentors and artists.

Mastercard’s aim is to make more people aware of and participate in the “digital transformation that is happening in the music industry” by utilizing Web3 technology.

The program aims to provide artists with “the tools and capabilities they need to succeed in a technology-driven era.”

For this reason, Mastercard has selected five budding musicians from various genres and geographies to experience the process of creating music on Web3. Under the guidance of expert mentors, these five musicians will experience the AI music studio by “Warpsound”, activate content production, and receive mentoring.

In addition, you will learn tips and tricks for monetizing works using blockchain and building a fan community, all within the Web3 environment.

Raja Rajamannar, Head of Marketing at Mastercard said:

We believe Web3 can be a powerful tool for connecting people and building communities by sharing a universal passion.

In June 2022, Mastercard partnered with payment infrastructure company MoonPay. It is now possible to purchase NFTs with a credit card.

What is Web3

The current centralized web is defined as Web 2.0, and refers to an attempt to realize a non-centralized network using blockchain. Typical features include use cases for decentralized networks such as blockchain, such as access to dApps using virtual currency wallets.

Cryptocurrency Glossary

Supporting Musicians with Mastercard

Mastercard has supported musicians by sponsoring the Grammy Awards, the Latin Grammy Awards and the Brit Awards.

The Mastercard Artist Accelerator focuses on cultivating musicians in the Web3 era, and education is a key component.

Mastercard points out that not only skill building but also fostering innovation, deepening business understanding and building networks play an important role in supporting the creator economy.

The company said investing in education “is key to increasing the likelihood of individual success and contributing to the growth of the creator economy as a whole.”

Under the Artist Accelerator program, the following five mentors will help musicians learn and grow.