Mastercard has announced that it will be launching its Artist Accelerator initiative on the Polygon blockchain. The program is intended to teach musicians how to expand their brands by minting NFTs, creating an online presence, and establishing a vibrant community. Although Mastercard has not disclosed who shall be participating in the accelerator, the company has nevertheless stated that it will conclude later this year with a live-streamed artist showcase. According to Mastercard, the goal is to create an interactive space for music content production, cooperation, and ownership by connecting artists globally with mentors in Web3. The accelerator will also include a limited edition NFT known as The Mastercard Music Pass, which will reportedly provide holders with access to unique music educational materials, resources, and other physical and virtual experiences. Elsewhere, Morgan Stanley revealed that it now holds Bitcoin on behalf of customers, with $6.5 trillion in AUM (Assets Under Management). As a result, the investment bank has allocated 3% of its assets to BTC. The goal is to provide passive investors with a chance to gain exposure to crypto.
