Mastercard has announced the release of non-fungible tokens (NFTs) to help Web3 musicians access resources to boost their careers. The Mastercard Music Pass NFT is a digital collectible that provides artists with access to the Mastercard Artist Accelerator program, which includes AI technology and educational tools. The NFTs, which are free to mint, were developed in partnership with Polygon, a popular platform for building and scaling Ethereum-compatible blockchain networks.
The Mastercard Music Pass NFTs can be collected by Web3 musicians, fans, and enthusiasts until the end of April. The NFTs provide artists with access to the Mastercard Artist Accelerator program, which includes AI technology and educational tools. The accelerator program includes access to advice from Web3 mentors like artist Latashá and Ledger CXO Ian Rodgers, providing valuable resources for Web3 musicians to build their careers.
Raja Rajamannar, Chief Marketing & Communications Officer and President of Healthcare Business at Mastercard, said in a press release that providing Web3 education is a key motivator for the company’s new NFTs and accelerator program. He emphasized that Mastercard hopes to help people and partners around the world better understand and trust how blockchain and digital assets are used, and how their technology can support the ecosystem. “We also believe that Web3 can be a powerful tool in connecting people and building communities around shared universal passions,” said Rajamannar.
While Mastercard has previously supported musicians through sponsorships such as the Grammy Awards, Latin Grammy Awards, and Brit Awards, this is the company’s first move that combines music and NFTs. It’s not Mastercard’s first foray into NFTs overall, however; in June 2022, the company began allowing cardholders to purchase NFTs with fiat through a partnership with payments infrastructure company Moonpay.
In summary, Mastercard’s release of non-fungible tokens is a significant move to support Web3 musicians in their career growth. By providing access to the Mastercard Artist Accelerator program, which includes AI technology and educational tools, the NFTs will help artists develop their skills and build their careers in the Web3 space. This move also demonstrates Mastercard’s continued interest in blockchain and digital assets, as they seek to educate people and partners around the world about the potential of Web3 technology.