Mastercard has launched a Web3 accelerator programme for musicians with the Polygon blockchain.

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

It 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.

Designed as a space for creators to come together and grow their music communities, the Mastercard Artist Accelerator also invites fans to have a seat at the table. The Mastercard Music Pass NFT will give holders access to the educational materials and experiences – in real life and the metaverse. 

The accelerator was unveiled at the Consumer Electronics Show in Las Vegas with Polygon Studios. 

“Web3 has the potential to empower a new type of artist that can grow a fanbase, make a living, and introduce novel mediums for self-expression and connection on their own terms,” said Ryan Wyatt, CEO of Polygon Studios. 

“The Mastercard Artist Accelerator not only shows the power of brands embracing this new space, it provides tools that can educate consumers on how to participate. This is an important step forward in opening up the benefits of Web3 to more people.”

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Digital collectible firm Candy Digital has raised Series A1 financing led by Galaxy Digital and ConsenSys Mesh, with participation from 10T Holdings and ConsenSys. It sees sports merchandise company Fanatics dispose of 60% of its formerly majority stake in Candy, which has unveiled a new partnership with ConsenSys Mesh and ConsenSys, leaders in Ethereum blockchain technology and decentralised protocols.

Mexico’s proposed central bank digital currency (CBDC) is unlikely to meet its 2024 launch date. Announced a year ago, the country’s central bank Banxico is still working on initial legal, administrative and technological requirements for the peso’s digital version.

FTX is attempting to recover millions of dollars donated to charities by the collapsed cryptocurrency exchange and its founder Sam Bankman-Fried. Some have voluntarily returned the funds, while others say they have spent them.

Legendary Formula 1 racing team Scuderia Ferrari is to end its multi-year partnership deal with Velas Blockchain, which was set at $30 million a year and aimed at increasing fan engagement through NFTs and other initiatives. A report from RacingNews365 suggests that Ferrari was noncompliant with clauses that permitted Velas to create NFT images.

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The overall market cap of the 22,200 coins is at $847 billion at the time of writing (7am UK), a 2.8% increase in the last 24 hours.

For round-ups of recent cryptocurrency news developments, click here.

For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price change, see below.