Mastercard Drops Free NFTs, Launches Web3 Music Accelerator

The Mastercard Music Pass NFT allows musicians to access its Mastercard Artist Accelerator Program, giving artists tools and resources to bolster their Web3 music careers.

AccessTimeIconApr 13, 2023 at 3:25 p.m. UTC
Updated Apr 13, 2023 at 6:43 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Credit card company Mastercard said Wednesday at NFT.NYC it’s releasing non-fungible tokens (NFT) to help Web3 musicians access resources to boost their careers.

The Mastercard Music Pass NFT, which is free to mint and developed in coordination with Polygon, is a digital collectible that allows artists to access the Mastercard Artist Accelerator program. The accelerator provides artists with AI technology and educational tools including access to advice from Web3 mentors such as artist Latashá and Ledger Chief Experience Officer Ian Rodgers.

Web3 musicians, fans and enthusiasts will be able to collect these NFTs through the end of April.

Raja Rajamannar, chief marketing and communications officer and president of health-care business at Mastercard, said in a press release that providing Web3 education is a key motivator for 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,” said Rajamannar. “We also believe that Web3 can be a powerful tool in connecting people and building communities around shared universal passions.”

Although Mastercard has previously made moves in supporting musicians by sponsoring the Grammy Awards, Latin Grammy Awards and Brit Awards, this is the company's first move that combines music and NFTs. It’s not Mastercard’s first foray into NFTs overall: In June 2022 it began allowing cardholders to purchase NFTs with fiat through a partnership with payments infrastructure company MoonPay.

Mastercard’s entry into Web3 hasn’t been entirely smooth. In February, Mastercard’s NFT lead Satvik Sethi left the company to “fully immerse” himself in Web3, minting his resignation letter as part of his departure.

Edited by Toby Leah Bochan.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Cam Thompson

Cam Thompson was a news reporter at CoinDesk.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.