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Mastercard Partners MoonPay to Incorporate Web3 in Experiential Marketing

Moonpay, Web3 adoption, investments

Mastercard is set to incorporate additional Web3 technologies into its experiential marketing efforts.

The company has joined forces with Web3 infrastructure company MoonPay to explore how these tools can enhance consumer connections and redefine customer loyalty and engagement, MoonPay said in a Wednesday (Oct. 25) press release. This partnership aims to leverage blockchain’s potential to establish unique connections and meaningful moments while broadening the industry’s overall reach.

MoonPay and Mastercard will collaborate to explore how Web3 tools can enhance experiential marketing efforts, including across Mastercard’s sponsorship portfolio, according to the release. By incorporating blockchain technology, the partnership aims to create innovative ways to connect with consumers and provide differentiated experiences. MoonPay’s subsidiary, Otherlife, which specializes in Web3 creative agency services, development, strategy and experiential services, will play a key role in this collaboration.

The firm will work closely with Mastercard to embed its products and solutions, driving trust, compliance and efficiency across the industry, the release said. Mastercard’s continued investment in blockchain technology demonstrates its commitment to bringing trust and transparency into the evolving space. For example, the company previously launched the Mastercard Artist Accelerator, a Web3 and music education platform that empowered musicians to create, collaborate and monetize their work using Web3 tools and resources.

As part of the new partnership, MoonPay will leverage Mastercard’s payments technology, including Mastercard Send and Click to Pay, to integrate into its Web3 stack, per the release. Additionally, MoonPay will utilize Mastercard Crypto Credential, a set of common standards and infrastructure that validate trusted interactions between consumers and businesses using blockchain networks.

This new collaboration comes about two months after MoonPay launched an investment arm that aims to support and collaborate with startups in the Web3 and FinTech ecosystems. The new MoonPay Ventures, which was announced on Aug. 29, will provide capital and access to resources, mentorship and industry expertise to early-stage companies.

A week before that, on Aug. 22, MoonPay teamed up with Binance.US, the American arm of the cryptocurrency exchange Binance. In that partnership, MoonPay will provide an alternative way for Binance.US customers to convert dollars to cryptocurrency at a time when multiple banking partners have cut ties with Binance.US.