Mastercard, one of the largest payment processors in the world, has partnered with the Polygon network to help emerging music artists create their own personal brands through Web3.
The Mastercard Artist Accelerator program aims to assist all types of musical artists, including musicians, DJs, and producers. Selected artists will receive training to utilize blockchain technology and build their personal brands through NFTs and the metaverse.
The company has a long history in the music industry, including sponsoring the GRAMMY awards. Last year, it even organized the first GRAMMY week in the metaverse with Roblox.
Music is a universal passion that inspires, moves, and unites us; however, it can seem impossible for emerging artists to break through. With the Mastercard Artist Accelerator, we are expanding access and further driving connections with cutting-edge Web3 technology, said a company spokesperson.
There is speculation that we may soon see a physical Mastercard card featuring an NFT image. Recently, Timex released 500 pieces of watches with the NFTs of Bored Ape Yacht Club and Mutant Ape Yacht Club on the dials.
Web3 expansion is also on the horizon for Mastercard. As a dominant brand in the payment processing sector, there are speculations that decentralized technology will disrupt the payment industry and push giants like Visa and Mastercard into bankruptcy. However, change is the only constant and if companies don't adapt to developing technology, they risk the fate of Kodak, Nokia, or Blockbuster.
Therefore, Mastercard is trying to get its exposure in the Web3 ecosystem. The payment company has also partnered with Binance to offer a prepaid crypto rewards card.
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