Payments giant Mastercard has formed a partnership with Polygon, behind the popular altcoin MATIC. Mastercard has taken a new step towards the blockchain field, especially focusing on web3 developments. Here are the details…
Mastercard announces Polygon-based accelerator program
Global payments giant Mastercard is once again increasing its access to blockchain technology after announcing a Polygon-based accelerator program to help musicians develop their careers via Web3. The firm announced its “Mastercard Artist Accelerator” program via a blog post on January 7. He emphasized that starting this spring, this program will bring together five emerging musicians from around the world with consultants who will help them establish their brands in Web3 music. The statement includes the following statements:
Artists will get exclusive access to special events, music releases and more. This program, which is the first of its kind, offers artists; It will teach them how to build (and own) their brands through Web3 experiences, such as printing NFTs, representing themselves in virtual worlds, building an engaged community.
The program will conclude with an artist exhibition that will be broadcast live later in the year. Mastercard is also launching an NFT collection called the “Mastercard Music Pass” for those not selected for the program. The goal is to help musicians learn about Web3 integrations with the music industry. To this end, providing hodlers with educational materials and “unique resources” through brand collaborations.
Polygon has been the network of choice mostly in web3 projects
Commenting as part of the announcement, Polygon Studios CEO Ryan Watt said, “Web3 has the potential to empower a new breed of artists who can build a fan base, make a living, and offer new mediums for self-expression and connection on their own terms.” Polygon looks set to become a hub for music-related Web3 projects. cryptocoin.comAs we reported, about a month ago, global entertainment giant Warner Music Group partnered with Polygon Studios to create a Web3 music platform called LGND Music.
The platform is scheduled to launch later this month and will allow users to stream music, collect and trade music NFTs. Mastercard is actively advancing its involvement in the Blockchain and crypto industries. In January 2022, Mastercard joined forces with the exchange to enable the use of Mastercard cards to purchase NFT on the Coinbase marketplace. In mid-October 2022, Mastercard partnered with Paxos to allow banks to offer cryptocurrency trading and related services to their customers. In the same month, Mastercard also launched a crypto fraud protection tool that allows banks to find and prevent fraud on its network.
Altcoin price rises
After this major development, the value of Polygon’s altcoin project MATIC has skyrocketed. The coin, which is currently in the 10th place according to its market value, rose from $ 0.774 to $ 0.81, gaining close to 5%. However, at the time of writing it has been withdrawn to $0.8006.