Mastercard is launching a web3 incubator to help emerging artists connect with fans and advance their careers through the use of web3 tools and blockchain technology.The incubator will be run in partnership with Polygon, a scaling blockchain built on top of Ethereum that has recently partnered with big brands such as Starbucks and Disney.Participating artists will learn how to mint NFTs, represent themselves in virtual worlds, and build a community through the incubator.

Mastercard, a leading financial payments provider, has announced the launch of a web3 incubator at CES 2023, an annual consumer electronics trade conference in the United States. The incubator aims to help emerging artists connect with fans and advance their careers through the use of web3 tools and blockchain technology.

In partnership with Polygon, a scaling blockchain built on top of Ethereum, the incubator will provide artists with access to experts in the field and teach them how to incorporate web3 into their work. Polygon has recently partnered with big brands such as Starbucks and Disney and has also seen major brands launch NFT projects on its blockchain.

Participating artists will learn how to mint non-fungible tokens (NFTs), represent themselves in virtual worlds, and build a community through the incubator. NFTs, which are unique digital assets, have gained popularity in the art world as a way for creators to own and monetize their content.

This announcement marks a further expansion of Mastercard into the digital asset space. The company has previously partnered with cryptocurrency-focused companies to launch credit cards and has teamed up with Coinbase to help expand the NFT ecosystem.

In the Philippines, the local subsidiary of Mastercard has positive things to say about cryptocurrency, stating that they are very open to utilizing virtual currencies once they have the licenses required to do so in the country.

Polygon was previously tapped as the only blockchain in the accelerator launched by Disney.

Starbucks Odyssey, the blockchain-based rewards program by the coffee giant was also in partnership with Polygon.

“Building Starbucks Odyssey using technology that aligns with our sustainability aspirations and commitments is a top priority. We took a very thoughtful and thorough approach when evaluating which blockchain to utilize and Polygon’s fast, low-cost, and carbon-neutral network is the perfect foundation for our first digital community,” said Ryan Butz, Vice President of Loyalty, Strategy, and Marketing for Starbucks.

This article is published on BitPinas: Mastercard Partners with Polygon to Launch Web3 Incubator for Artists

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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Filed under: Bitcoin - @ January 8, 2023 4:00 am