Mastercard's Web3 Initiatives and Sonic Branding
This year, Mastercard embarked on an exciting journey into the world of Web3 with the launch of the Mastercard Artist Accelerator in April, a program designed to support emerging artists. The results have been promising, and Raja Rajamannar, Mastercard’s Chief Marketing and Communications Officer, shared insights into the company's initiatives.
Web3 and NFTs
- The Artist Accelerator program, built on the Polygon blockchain, featured global artists who livestreamed shows and introduced AI-driven singles.
- Almost 100,000 music artists leveraged the platform for access to free educational resources, generative AI music creation, and NFT minting.
- Approximately 5,000 participants learned the art of minting NFT music tracks and using NFTs to foster deeper connections with their fans.
- Mastercard's focus is on ensuring NFTs offer compelling utility for their users.
Impact on Artists
- The program had a significant impact on artists, with five selected artists experiencing a 73,000 increase in their fan following on platforms like Spotify.
Mastercard's venture into Web3 and sonic branding has its roots in the need to capture and retain people's attention in a world bombarded with an overwhelming visual onslaught of daily advertising messages.
- In 2019, Mastercard introduced its unique sonic brand identity, featuring a distinctive 1.3-second melody accompanying every successful Mastercard transaction.
- Given Mastercard's high transaction volume (averaging 33 billion transactions per quarter over the past year), their sonic branding has reached a global audience.
- Mastercard proudly holds the title of the world's number one audio brand, according to the Best Audio Brands Index.
- Sonic branding offers a powerful means for brands to establish a consistent identity and capture attention in a world oversaturated with visual content.
Raja Rajamannar emphasizes the importance of considering audio branding as a means to stand out and break through the noise in the advertising landscape.
Written by: Team Voices Bazaar (https://www.voicesbazaar.com)
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