Mastercard launches web3-focused artist incubator with Polygon

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Mastercard is launching a web3 focused incubator to help artists connect with fans through a new medium.

The core of the program is providing emerging artists with the web3 tools and skills they need to excel and advance their music careers in this digital economy. The artists will be guided on how to incorporate web3 into their work throughout the entire program and then beyond by providing access to experts and innovators in the space.

The Web 2.0 community has made huge strides recently with the partnership between Mastercard and Polygon. Starbucks, Disney, and Prada are just a few of the big brands that have collaborated with Polygon in the past year.

Artists who join the incubator should know how to mint NFTs, represent themselves in virtual worlds and establish a community. Web3 holds tremendous promise for artists and creators to create, own and monetize their content, but only if they know how to use it.

This announcement points to the company's expansion further into the digital asset world as it joined forces with a number of crypto focused companies to launch credit cards.

Rajamannar said that this past year was big for the company.

Mastercard hosted the firstGrammy week with Roblox in the metaverse, where it provided in-game branding, artist meet and greets, red carpet photo opportunities and more.

Mastercard employees have been vocal about their bullish feelings towards the space in the past.

Grace Berkery, director of startup engagement at Mastercard, said that it was hard to get institutions to pivot once they were up and running. Theinstitutions will stay in the space if they enter.