The Mastercard Music Pass NFT offers musicians access to the Mastercard Artist Accelerator Program, a program that offers artists tools and resources to boost their Web3 music careers.
The release of non-fungible tokens (NFT) by the credit card corporation Mastercard was announced on Wednesday at NFT.NYC in order to give Web3 musicians access to resources that would boost their careers.
The Mastercard Music Pass NFT is a digital collectable that gives artists access to the Mastercard Artist Accelerator program. It is free to mint and was developed in collaboration with Polygon. The accelerator offers educational tools, and artificial intelligence (AI) technology, along with access to Web3 mentors including artist Latashá and Ledger Chief Experience Officer Ian Rodgers.
These NFTs will be available for collection by Web3 musicians, fans, and enthusiasts through the end of April.
In a news release, Mastercard’s chief marketing and communications officer and head of the health-care division Raja Rajamannar stated that offering Web3 education is an important motivating factor behind the company’s new NFTs and accelerator program.
“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,” Rajamannar added. We also believe that Web3 could serve as a highly effective tool for connecting people and establishing communities around shared passions.
Elevating the next generation of music: #priceless.
— Mastercard (@Mastercard) April 12, 2023
Although Mastercard has sponsored the Grammy Awards, Latin Grammy Awards, and Brit Awards in the past, this is the company’s first move that combines music with NFTs. This is not Mastercard’s first foray into NFTs – in June 2022, it allowed cardholders to buy NFTs using fiat under a partnership with payments infrastructure firm MoonPay.
It hasn’t been easy for Mastercard to enter Web3. Satvik Sethi, the NFT head for Mastercard, quit the company in February to “fully immerse” himself in Web3, minting his resignation letter as part of his departure.