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Information Technology (IT)Mastercard and Polygon have collaborated to establish the Web3 musician accelerator program.

Mastercard and Polygon have collaborated to establish the Web3 musician accelerator program.

The initiative will assist five new musicians in establishing and managing their Web3 identities, as well as teaching others in the music industry about the opportunities that Web3 technology may provide.

This Initiative will assist five new musicians in establishing and managing their Web3 identities, as well as educating others in the music industry on the opportunities that Web3 technology may provide.

“The artists will gain exclusive access to special events, music releases, and more. A first-of-its-kind curriculum will teach the artists how to build (and own) their brand through Web3 experiences like minting NFTs, representing themselves in virtual worlds, and establishing an engaged community,” the post reads.

The program will culminate with a live-stream artist showcase later in the year.

Here is the Twitter Post of Mastercard about the Web3:

Mastercard is also offering a non-fungible token (NFT) collection dubbed the “Mastercard Music Pass”. This will be for people who were not there for the program. Through brand alliances, the goal is to give holders with instructional materials and “unique tools”.

Polygon appears to be on track to become a hotspot for music-related Web3 initiatives. Cointelegraph announced on December 6 that global entertainment behemoth Warner Music Group has joined Polygon Studios. E-commerce and interactive platform builder LGN.io to create LGND Music, a Web3 music portal.

The program is there to launch later this month. It will allow users to stream music as well as acquire and trade music NFTs.

The Mastercard Company has been expanding its presence in the blockchain and cryptocurrency areas. Mastercard partnered with Coinbase in January 2022 to let Mastercard cards be useable to purchase NFTs on Coinbase’s marketplace.

Mastercard teamed with Paxos in mid-October 2022 to enable banks to offer cryptocurrency trading and related services to their consumers.

In the same month, Cointelegraph revealed that Mastercard has released a crypto fraud prevention solution. Allowing banks to detect and prevent fraud on cryptocurrency merchant platforms within their network.

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