Mastercard and Polygon join forces for artist accelerator program

Mastercard has teamed up with Polygon to launch the Mastercard Artist Accelerator program, which is set to launch in spring 2023. This program aims to provide musicians, DJs, and producers with the tools to share content on Web 3 and mint non-fungible tokens (NFTs). The partnership aims to empower and educate a new generation of artists using blockchain technology and to increase access to the music industry.

The Mastercard Artist Accelerator program will feature a live-streamed artist showcase and provide fans with exclusive access to an NFT edition called The Mastercard Music Pass. This pass will offer Web3 learning resources to users.

Polygon, one of the fastest blockchains, has onboarded major brands including Starbucks, Nike, and Instagram in the past. The announcement of the Mastercard Artist Accelerator program has had a positive impact on the price of Polygon's native MATIC token, which has risen 3% in the last 24 hours.

In addition to partnering with Mastercard, Polygon also paid $3 million in grants to have the Solana NFT project y00ts moved to its platform. Together with DeGods, another NFT platform on Solana, y00ts has generated some of the highest NFT sales on the Solana platform, reaching up to 70%.

The Mastercard Artist Accelerator program and Polygon's partnership with y00ts demonstrate the increasing adoption of blockchain technology in the music industry. The use of NFTs allows artists to have more control over their content and how it is distributed, while also providing a new revenue stream. The live-streamed artist showcase and The Mastercard Music Pass offer fans exclusive access to content and educational resources, further improving the music experience.

The partnership between Mastercard and Polygon aims to empower a new generation of artists and increase access to the music industry through the use of blockchain technology. The launch of the Mastercard Artist Accelerator program in spring 2023 is highly anticipated and is expected to bring new opportunities for artists and fans alike.