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- In an effort to tap into the NFT business, Mastercard has partnered with Polygon to launch NFT collections in support of musicians.
- This is the second initiative under the recently launched Mastercard Artist Accelerator program.
Mastercard and Polygon have been collaborating on the Mastercard Artist Accelerator program launched in January. The program was initiated by Mastercard in its efforts to embrace NFTs and Web 3 technologies at large. Since its launch, the program has focused on supporting up-and-coming artists to extend their brands.
On Wednesday at NFT.NYC 2023, the largest NFT conference, the financial giant announced a limited-edition Mastercard Music Pass NFT, the key to unlocking the Mastercard Artist Accelerator program where emerging musicians can access ‘ free educational materials, unique AI tools through collaborations, and priceless experiences to boost creativity.”
In the official announcement, Mastercard says that by the end of the month, music and Web3 fans will be able to redeem Mastercard Music Pass NFT. To showcase the success of the program, Mastercard will be working with five up-and-coming artists from across genres and geographies including Young Athena, Manu Manzu, LeriQ, Emily Vu, and Cocoa Sarai.
Mastercard executive Raja Rajamannar stated;
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
For upcoming artists, understanding the business, growing their creativity and networking is key to growing their brands. Thanks to Mastercard and Polygon, artists have the tools and capabilities to rapidly grow in this tech-driven era. For the Polygon ecosystem, its tech has once again demonstrated its superiority by now working with one of the largest financial institutions on a billion-dollar market. This will further the adoption of the network and its native token MATIC.
Polygon (MATIC) eyes $3 ATH
MATIC is riding a bullish wave and has in the last 24 hours gained more than 4 percent, trading just under $1.2, this pushes its weekly gains to over 7 percent. Although the token is down by nearly 60 percent from its all-time high achieved in 2022, enthusiasts are confident owing largely to the recent partnership deals struck between the project and multinationals, as well as technological developments on the network.
One of the most recent technological developments is the launch of Polygon zkEVM. Initially launched in 2022 with over $1 billion invested into its development, the upgrade went live on the mainnet in late March. This upgrade brings EVM compatibility to Ethereum and makes transactions cheaper and faster.
In recent weeks, CNF has reported partnerships between Polygon and numerous billion-dollar companies including sneaker and lifestyle brand Adidas, Web3 gaming firm Immutable, and entertainment studio and technology company behind the popular The Fast and The Furious movie, Feature, Leading U.S. based fashion company Ralph Lauren, and Latin America’s leading investment bank BTC Pactual.
