Mastercard and Polygon Bringing Artists to Web3

These days, corporate brands seem more and more interested in blockchain-based assets. We’ve seen some of the biggest consumer brands in the world launch NFT-based projects that allow consumers to receive rewards, enjoy exclusive perks, and so on. At the same time, brands seem more interested in investing in the NFT space as a whole.

Take payment processor Mastercard which recently announced an artists’ accelerator program with the Polygon blockchain. This program will unite the creatives themselves, their fans, and industry stakeholders and encourage more participation in web3, including the creation of NFTs. 

Details About the Program

From the official announcement, this program will be launched in the spring of 2023 and will feature a live-streamed event with all the participants. In total, five creatives will be chosen and equipped with the skills to participate in web3. 

“The artists will gain exclusive access to special events, music releases and more. A first-of-its-kind curriculum will teach the artists how to build (and own) their brand through Web3 experiences like minting NFTs, representing themselves in virtual worlds and establishing an engaged community,” the announcement says. 

And while all this is going on, fans will also be given the chance to participate. This will be done through the Mastercard Music Pass, a digital asset that offers its holders a world of benefits. These include unique experiences, access to Mastercard’s Web3 x Music educational materials, and many more. Essentially, Mastercard is giving fans the chance to learn alongside the creatives themselves.

It is no secret that the NFT space has greatly benefited from the work of creatives who have driven sales and secured public visibility for it. At the same time, technical know-how and material resources can act as a hindreance to creatives getting involved in the NFT space.

As such, these types of programs help to remove barriers to entry and benefit the creatives in that they can be financially empowered through NFTs. This was a sentiment shared by Ryan Wyatt, CEO of Polygon Studios, which was involved in the new development. 

“Web3 has the potential to empower a new type of artist that can grow a fanbase, make a living, and introduce novel mediums for self-expression and connection on their own terms. The Mastercard Artist Accelerator not only shows the power of brands embracing this new space, it provides tools that can educate consumers on how to participate. This is an important step forward in opening up the benefits of Web3 to more people,” he said. 

The Importance of Corporate Investment in the NFT Space

Over the years, more and more companies have become invested in the NFT space, whether by launching projects of their own or empowering NFT creators, as with Mastercard. 

These sorts of initiatives serve multiple purposes. First, they allow for more resources to flow into the NFT industry and to creators especially. At the same time, having NFTs be associated with such big names among consumers grants a sense of legitimacy to them.