Mastercard, a renowned company in the traditional finance sector, has ventured into the Web3 space and is launching an artist accelerator program for musicians this month. However, there is a catch – access to the program is only possible via an NFT member pass. This program is the latest addition to Mastercard’s Web3 integrations in recent years. It was created in collaboration with Polygon and offers free access to educational materials, unique AI tools, and other experiences to NFT holders.

Example of Mastercard Music Pass NFT. Source: Mastercard

The NFT is a limited-edition and free until the end of the month for both musicians and fans. Mastercard aims to help users understand and trust how blockchain and digital assets are used through this program. The company believes that Web3 can be a powerful tool in connecting people and building communities around shared universal passions.

Mastercard has been a long-time supporter and early adopter of Web3 technologies to bring fans and creators more opportunities to create exclusive, inclusive, and scalable experiences. The program will expose the selected five artists from different genres around the world to new artificial intelligence (AI)-driven music studios in addition to Web3 technologies.

It is worth noting that Mastercard’s latest move comes less than two months after both it and Visa announced that they would be delaying all new crypto and blockchain partnerships until improved market conditions are visible and a more clear and established regulatory framework is in place.