Mastercard Unveils Web3 Music Accelerator and Drops Free NFTs

Earlier this week on Wednesday, April 12, the popular payments giant Mastercard stated that it will be releasing non-fungible tokens (NFTs) in order to help Web3 musicians access the resources to help them boost their careers. The announcement came at NFT.NYC 2023, the largest NFT conference in the world.

Dubbed Mastercard Music Pass NFT, it is developed in coordination with the Polygon network and free to mint. Mastercard stated that its Music Pass NFTs are key to unlock the Mastercard Artist Accelerator Program which is nothing but a Web3 platform giving free access to educational materials.

This Mastercard Accelerator provides artists with AI technology and other educational tools. The company said that by the end of this month, all music and Web3 fans would be able to redeem the Mastercard Music Pass NFT. This digital collectible leverages Mastercard’s design principles along with the sonic melody.

Mastercard Music Accelerator

For a long period of time, Mastercard has been supporting the music industry. Besides, the payments giant has been also early to leverage Web3 technologies to create exclusive, inclusive and also scalable experiences for artists and fans alike.

Mastercard said that its accelerator program would empower artists with tools and capabilities that they need to thrive in this tech-driven era. The payments giant will put no limit on the number of fans that can unlock this program after claiming the Mastercard Music Pass. Speaking on the development, Raja Rajamannar, Chief Marketing & Communications Officer and President, Healthcare Business, Mastercard, said:

“As a company, we hope to help people and partners around the world better understand and trust how blockchain and digital assets are used – and how our 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”.

Payments giant Mastercard has been quite active in several blockchain and crypto initiatives taking place in the market. Last month, Mastercard entered into a strategic partnership with Australian fintech startup Stables to boost stablecoin adoption in the APAC region.

For this, Stables will be designing a stablecoin-only digital wallet to support the payment integration. Also, the service shall go live in the second quarter of this year.