Mastercard has launched its Web3-based Mastercard Artist Accelerator program, aiming to extend its music footprint. The Mastercard Artist Accelerator will connect select artists from around the world with notable mentors and a dynamic fanbase as they learn and create in Web3.

The program culminates later in 2023 with a livestreamed artist showcase. The Mastercard Artist Accelerator will give five up-and-coming artists – such as musicians, DJs, and producers – the resources, know-how, and access they need to carve out careers in the digital music industry. Exclusive access to events, song releases, and more will be given to the artists.

The artists will learn how to develop (and own) their brand using Web3 activities including creating NFTs, putting up virtual personas, and creating active communities through a curriculum. The Mastercard Artist Accelerator also welcomes music lovers to take a seat at the table. Owners of the limited-edition Mastercard Music Pass will have access to the Web3 x Music instructional materials.

With the help of this token, fans can access the platform and train with artists to improve their own skills and understanding of the industry. Mastercard and the crypto market Mastercard has tapped the Polygon blockchain to power these fan-driven artist experiences. Web3's capabilities offer the potential to expand the possibilities for music content creation, collaboration, and ownership.

However, this new market has not yet completely realised its potential, especially for up-and-coming musicians. Mastercard has been actively furthering its involvement in the blockchain and crypto sectors. In January 2022, Mastercard joined forces with Coinbase to enable the use of Mastercard cards for purchasing NFTs on Coinbase's marketplace.

In mid-October, Mastercard partnered with Paxos to allow banks to offer cryptocurrency trading and related services to their customers. In that same month, Mastercard had also launched a crypto fraud protection tool, enabling banks to find and prevent fraud on crypto merchant platforms within its network. Mastercard and the music market Mastercard supports the music business by bringing together musicians and fans through a variety of surprises and experiences.

Mastercard has been a pioneer in utilising Web3 technology to offer exclusive, inclusive, and scalable experiences for fans and artists alike. The company even released its first album, ‘Priceless’, in June 2022 as a result of a partnership that emphasised mentoring upcoming musicians. The Mastercard Artist Accelerator will provide upcoming musicians with the skills and resources they need to succeed in this tech-driven era thanks to the brand's history in the music industry and its expertise in creating strong networks in the digital economy.

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