Spotify tests NFTs on artist profiles
According to Music Ally, Spotify is investigating NFT prospects on their platform. According to a Spotify representative, the company is doing testing to assist some artists to advertise their existing third-party NFT offers through artist profiles. If the testing is successful, incorporating NFT will help artists and fans have a better experience.
Spotify is exploring the placement of NFTs, which can be acquired on external trading platforms, based on the profiles of indie band The Wombats and DJ Steve Aoki. However, the service does not intend to sell tokens directly.
Where and For whom?
The trial is being conducted for a small number of Spotify Android app users in the United States. If the function is successful, the firm does not rule out complete deployment for all artists. Users on Twitter are also reporting on Spotify’s study on NFT, Web 3.0, and cryptocurrency.
Although the direct purchase is not feasible, the user can be routed to the OpenSea website where they can purchase the item after reading about NFT and seeing an expanded preview. Spotify supposedly does not support video or GIF formats, instead of displaying a static picture devoid of sound.
According to a corporate representative, the experiments are being carried out “to better the experience for artists and fans,” and while some will eventually “open the door to a bigger experience,” others will “serve solely as an essential lesson.” Some Spotify customers have spoken out about the NFT-related poll that the streaming provider sends them.
The objective is to allow customers to preview NFTs on the artist’s profile page, examine their details, and buy them on the external market, in addition to allowing artists to promote their NFTs. Spotify, on the other hand, claims that the NFTs that are now being tested are free.
Spotify will join the ranks of other well-known corporations in incorporating NFT into their platforms. Instagram CEO Adam Mosseri confirmed last week that the company has begun testing NFT, while Meta CEO Mark Zuckerberg stated that the functionality might potentially emerge on Facebook and other Meta-owned applications.
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