To help emerging creators leverage the power of Web3 and blockchain technologies, MasterCard has launched a spotlight program for emerging musical artists built on the Polygon blockchain.
Mastercard Artist Accelerator will prepare five emerging artists to work in the digital economy, including musicians, DJs, and producers, with the tools, skills, and access necessary to succeed. Artists will enjoy the benefits such as exclusive access to special events, music releases, and much more. Using Web3 tools like minting NFTs, presenting themselves in virtual worlds, and building engaged communities, a first-of-its-kind curriculum will teach artists how to build (and own) their brand.
It is a platform designed to help artists grow their music communities and give fans a voice. Fans can learn alongside artists to sharpen their skills and gain a deeper understanding of the space by joining the platform. An artist showcase will be live-streamed later in the year to conclude the program.
The power of music inspires us, moves us, and unites us; however, breaking into the music industry can seem impossible for budding artists. Mastercard Artist Accelerator expands access and drives connections further with cutting-edge Web3 technology,” said Raja Rajamannar, Chief Marketing and Communications Officer at Mastercard. “To achieve our mission, we aim to bridge passion and purpose by showcasing amazing emerging artists and creating an interactive community where participants can learn, experiment, and grow together.”
Raja announced the Mastercard Artist Accelerator program at the Consumer Electronics Show in Las Vegas with Polygon Studios. With Web3 technologies, Mastercard, a sponsor of the GRAMMY Awards®, Latin GRAMMY Awards®, and BRIT Awards, creates exclusive and scalable experiences for artists and fans alike. Moreover, in June 2022, the brand launched its first album, “Priceless.”
With tens of thousands of decentralized apps powered by Polygon solutions, including music platforms Royal, StemsDAO, and Bolera, the network is considered one of the greenest blockchains in the world.
“Using Web3, artists can grow a fanbase, make a living, and introduce new ways to express themselves and connect on their terms,” said Polygon Studios CEO Ryan Wyatt. “The Mastercard Artist Accelerator demonstrates the power of brands embracing this new space and provides consumers with tools to learn about it. As a result, more people can benefit from Web3.”
Despite its design as a scaling solution for Ethereum (ETH), MATIC became a leader in retail adoption. Coca-Cola, Starbucks, and Disney recently signed deals on the carbon-neutral blockchain. A long list of partnerships shows that Polygon is trusted by the largest retailers in the world.
There has been a great deal of backlash from the musical artist community due to the monopoly of the music industry over the years. The intended lack of direct connection between artists and fans and unfair royalties from the most popular streaming services are just a few more serious issues. Modern music can overcome one of its biggest challenges through blockchain-based decentralization.