Mastercard will use Polygon to welcome musicians into the Web3 world and mint their own NFTs.
The goal of the course is to educate musicians on how to mint NFTs, create an online presence, and grow an audience. Mastercard has not yet announced the accelerator’s participants, but the corporation has announced that a live-streamed artist showcase would conclude the program later this year.
Mastercard’s accelerator will link together musicians all around the globe with Web3 experts in an effort to realize the company’s stated goal of establishing a platform for the production, sharing, and ownership of musical works.
Mastercard claims that the accelerator’s limited-edition NFT, titled “The Mastercard Music Pass,” would provide its owners access to a variety of in-person and online musical opportunities and resources.
NFTs are tokens that may be used to verify ownership, legitimacy, or participation in a community, and they are based on blockchain technology. In the past, NFTs have also served as a profitable side gig for artists.
Singer and musician Grimes made nearly $6 million from the sale of her art collection in March 2021. Meanwhile, EDM artist 3LAU earned $11 million the same month by selling an album split into 33 NFTs. In February of last year, DJ Steve Aoki made headlines when he said that his earnings from NFTs exceeded those from his music career’s first decade combined.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.