Latest Hour: Mastercard Chooses Polygon Blockchain for Music Artist Accelerator Program

Latest Hour: Mastercard Selects Polygon Blockchain for Music Artist Accelerator Program - MastercardMastercard, the leading payment network operator, is diving into the Web3 industry with an innovative new program aimed at empowering artists. To help execute its plan and realize its vision, Mastercard enlisted the support of Polygon blockchain.

The program, called the Mastercard Artist Accelerator, was created specifically to launch up-and-coming studios into the limelight. Built on the Polygon blockchain, the program will use Web3 and Blockchain to assist artists in brand building.

According to a recent blogpost on Polygon's official website, photon is set to kick off in the spring of this year. The initiative will involve five artists, including DJs, musicians and music producers, and will equip them with the tools and skills necessary to enter the digital economy.

“Artists will have exclusive access to special events, music releases and more. A first-of-its-kind curriculum will teach artists how to build (and own) their brand through Web3 experiences such as minting NFTs, representing themselves in virtual worlds, and building an engaged community.” Polygon revealed in the blogpost.

Fans of the artists will also have access to the past tense and can learn with the artists. Ryan Watts, CEO of Polygon Studios, spoke about the impact Web3 could have on artists' careers.

“Web3 has the potential to empower a new type of artist who can grow a fan base, make a living, and introduce new means for self-expression and connection on their own terms”Ryan Wyatt said.

Polygon's involvement with Mastercard certainly does a lot of publicity for the blockchain. And it further reinforces the recent statements of Ryan Watts, who defined the Polygon studies as a funnel for consumer brands that want to make the leap into the Web3 market.

“We built this great funnel for partners and made onboarding with Polygon really seamless.” Watts added.

Polygon topples Solana to welcome two new migrants to its chain

Polygon made the rounds in the NFT community after two major NFT projects on Solana's NFT marketplace moved to the Polygon network.

By defeating blockchain rival Solana, Polygon will soon welcome arivials of both projects.

Digital art collections DeGods and Yoots, both made by DeLabs, revealed in December last year that both would be moving from Solana to Polygon in the first quarter of 2023.

Revealing more details about the decision, project leader Rohun Vora, known on Twitter as @frankdegods, noted that Polygon paid him $3 million for the migration.

The payment is expected to fund the growth of the DeLabs team, helping them launch bigger projects and dominate the market.