Spotify starts testing NFTs on its platform

    21 May 2022
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    Spotify is reportedly testing the option to include NFT galleries on musicians’ profiles. The test is currently available to select Android users across the United States. Should the trial succeed, artists may soon be able to promote their NFTs on their profiles.

    Spotify, a major music streaming platform, is testing a new feature that allows artists to promote their NFTs on their profiles, Music Ally reported.

    The latest tech company to jump on the NFT bandwagon, Spotify waded into the Web3 world earlier this month with the May 3 launch of “Spotify Island” on Roblox. Starting with a single pilot group of artists, among them Steve Aoki and The Wombats, Spotify will now test NFTs on the platform to specially selected users based in the US.

    They will not sell NFTs directly, however, as users will need to tap through to an external marketplace to make purchases. Spotify has said it will not take a cut of the sales as part of the test.

    At the same time, users have reported that Spotify is also sending out surveys and even offering some people compensation for chats with team members about users’ attitudes toward NFTs and Web3. Questions shared on Twitter include asking about sentiment, crypto-related purchases, and why people bought NFTs. The questions were met with derision by some posters.

    Rumors about Spotify entering the Web3 space surfaced in March after the company posted two job listings related to blockchain technology and NFTs. As Music Ally notes, some users report seeing a survey pop up on the Spotify app that asks them about their feelings on NFTs as well. Last week, Instagram also started testing NFT integration following the March announcement from Mark Zuckerberg.

    Lately, the music industry is making waves in the NFT world. Some major artists have already begun exploring the potential of NFTs in the music industry, and some have already experimented with NFTs.

    There are more ways NFTs can change the dynamics of the music industry. In an article from MakeUseOf on how NFTs Are Changing the Music Industry, by tokenizing music into NFTs, artists can launch unique, collectible versions of their music.

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