Mastercard’s CMO on Driving Revenue From Web3 Initiatives
This year started on a musical note for Mastercard with the launch of the Mastercard Artist Accelerator in April, a Web3-based program supporting emerging artists. So far, the results are music to Mastercard’s ears.
The financial payment processor’s bullish Web3 investments have positioned Mastercard as a technologically advanced company that has led to a positive revenue impact, Raja Rajamannar, Mastercard’s chief marketing and communications officer, told Adweek. This was especially the case among Gen Z audiences, who showed a proclivity for selecting Mastercard for its products or services when making purchasing decisions.
Web3, driven by technologies like virtual reality, augmented reality, blockchain, cryptocurrencies and non-fungible tokens (NFTs), has lost some of its charm within the ad industry. According to data from NFT aggregator CryptoSlam, NFT sales in July amounted to $495.6 million, a 23% decline from the previous month’s total of $646.1 million.
For Mastercard, NFTs still present a multitude of possibilities for marketers.
AdWeek
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