A multi-year partnership between Warner Music Group and Web3 music firm LGND was also announced in December

Mastercard will employ Polygon to help musicians enter the Web3 market, including helping them mint their own NFTs.

On Friday in Las Vegas, Nevada, during the Consumer Electronics Show, Mastercard announced that the Mastercard Artist Accelerator would be made available on the Polygon blockchain.

The course's objective is to teach musicians how to expand their brands through community building, NFT production, and internet presence. According to Mastercard, which has not yet revealed who will participate in the program, the accelerator will come to a finish later this year with a live-streamed artist presentation.

The goal, according to Mastercard, is to create a space for the creation, collaboration, and ownership of musical content. To that end, the accelerator will be used to connect musicians from across the world with mentors in Web3.

“A first-of-its-kind curriculum will teach the artists how to build (and own) their brand through Web3 experiences like minting NFTs, representing themselves in virtual worlds and establishing an engaged community,” said Mastercard in the press release.

According to Mastercard, the objective is to establish a setting for the production, sharing, and ownership of musical content. To that purpose, the accelerator will be put to use to link mentors in Web3 with musicians from all around the world.

"Kicking off in spring 2023, the Mastercard Artist Accelerator will prepare five emerging artists—such as musicians, DJs, producers—with the tools, skills, and access to forge their own musical paths in the digital economy," said Mastercard.

According to a press statement from Mastercard, the accelerator will include a limited-edition NFT called "The Mastercard Music Pass" that, according to the firm, would give owners access to exclusive learning materials, physical and digital experiences, and special resources.

Even though it seems like we just rang in the new year, Polygon has been active since then, building on its success in 2022.

NFTpay, a Web3 platform based in Miami, gave NFT merchants the ability to take credit card payments for jobs on the Polygon sidechain last month.

A multi-year partnership between Warner Music Group and Web3 music firm LGND was also announced in December. Through this partnership, artists signed to the labels' rosters will be able to issue music NFTs through the upcoming Polygon-based marketplace LGND Music.

Last but not least, the most current version of the Windows media player Winamp has incorporated music NFTs to its platform. The new Winamp feature allows users to play audio files that have been encoded in non-fungible tokens (NFTs).

It is crucial that Mastercard and Polygon are working together to create a Web3 music incubator because it shows that Polygon is continuing to grow after the year 2022. Here at NFT Drops Calendar, we'll keep an eye out for any more developments in the tale.