As part of the program, the artists will receive mentorship and access to special events, music releases, and more. The program will culminate in a live-streamed artist showcase later in the year. Mastercard is also releasing a non-fungible token (NFT) collection called the "Mastercard Music Pass" for those not selected for the program. The collection will provide educational materials and unique resources to help budding musicians learn about Web3 integrations in the music sector.
Mastercard Expands Its Blockchain and Crypto Presence
Mastercard has been actively expanding its presence in the blockchain and crypto sectors. In January 2022, the company partnered with Coinbase to enable Mastercard cards to purchase NFTs on Coinbase's marketplace. In October 2022, Mastercard partnered with Paxos to allow banks to offer their customers cryptocurrency trading and related services. Additionally, Mastercard launched a crypto fraud protection tool in October 2022 to help banks find and prevent fraud on crypto merchant platforms within its network.