Mastercard, a global financial services provider, recently announced a new artist accelerator program that leverages non-fungible tokens (NFTs) to offer exclusive access to educational resources, advanced AI tools, and other one-of-a-kind experiences for musicians and fans alike.
Cointelegraph reports that the Mastercard Music Pass NFT, a limited-edition collectible that provides access to the full range of benefits available through the accelerator program, is at the heart of this innovative new program.
The NFT is currently free until the end of the month and is available to both musicians and fans.
The Mastercard Artist Accelerator Program
Mastercard has already chosen five emerging artists from around the world to take part in the program, who represent a wide range of genres.
The Mastercard Artist Accelerator program, developed in collaboration with blockchain developer Polygon, provides a wealth of resources and support to artists, including access to cutting-edge AI-driven music studio capabilities, mentorship from industry experts, and guidance on how to leverage blockchain technology to monetize their work and cultivate a community of fans.
The program is intended to help users gain a better understanding and trust of blockchain and digital assets, which are becoming increasingly important in the music industry, according to Raja Rajamannar, Mastercard's Chief Marketing & Communications Officer and President of Healthcare Business.
In a press release, Rajamannar noted that Web3 technology has enormous potential for connecting people and creating communities based on common interests.
Mastercard has long been a supporter of the music industry, sponsoring high-profile events such as the GRAMMY Awards, Latin GRAMMY Awards, BRIT Awards, and the metaverse's first Sonic Latin America Music Festival.
The Mastercard Music Pass NFT will be officially launched at the upcoming NFT.NYC 2023 conference, the world's largest NFT conference, provides Mastercard with a global platform to showcase its innovative new program and NFT to a broader audience of music and technology enthusiasts.
More About the Announcement
Cointelegraph notes that this announcement comes just a few months after Mastercard and Visa announced that new crypto and blockchain partnerships would be postponed until market conditions improved and a more stable regulatory framework was established.
In Other NFT News
Coindesk reports that Adidas has released a new collection, the ALTS by Adidas, as part of its Into The Metaverse non-fungible token (NFT) ecosystem.
In December 2021, the brand debuted the Into The Metaverse collection, which gave NFT holders exclusive access to collaborative merchandise and virtual land experiences throughout 2022.
Adidas collaborated with NFT influencer gmoney, PUNKS Comic, and Bored Ape Yacht Club in its first exploration, allowing holders to burn their NFTs to claim physical clothing items and a new ERC-1155 token for the project's next phase.
The ALTS by Adidas collection, which is based on the Ethereum blockchain, is the newest stage of Adidas' Web3 journey.
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