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- Music streaming platform Spotify has unveiled the test for a few users on Android in United States.
- As per a Spotify spokesperson, the platform is doing a test with a handful of folks to promote their persisting 3rd party NFT offerings.
- More organizations are trying to grab the NFT wave, but it seems like the initial escalation might be petering out.
Spotify To Roll Out NFT Features?
Spotify is experimenting with a way for artists to exhibit their NFT collections, as initially reported by Music Ally. The music streaming project has taken the test out of the box for a handful of Android users in United States and at present involves NFT previews for celeb artists such as The Wombats and Linkin Park’s Steve Aoki.
As per a spokesperson of Spotify, the organization is running an experiment that will assist a handful of folks through their artist profiles. He further added that they regularly organize a number of tests in an attempt to better fan and artist experiences.
A few of those experiments end up digging a route for a wider experience and others act only as an essential learning.
More organizations are going for the NFT wave, but it appears like that this initial wave might be petering out. As per WSJ, routine NFT sales are down by 92% from 225,000 in September 2021 to just 19,000 in May 2022. Total NFT wallets are also declining, from around 119,000 in November 2021 to 14,000 in April.
NFT Feature Available To Few After Update
Some individuals had the accessibility to the test after updating the application. For example, if the folks (selected ones) navigate through pages of artists like The Wombats and Steve Aoki, they can witness NFT gallery sitting beneath the header of artist and song list. Selecting it will unveil the NFT collection of that specific artist.
There is another option of “See More,” redirecting individuals on the OpenSea page where they can lay hands on them. But Spotify only supports audio files only.
As per Music Ally, Spotify will not bag a commission for any sales of NFT made via the application and is just examining the integration. It also is not clear whether the test has been made accessible to any other artists or if it is just restricted to Wombats and Steve Aoki at present.
Rumors regarding Spotify stepping into Web3 sector emerged in March after the organization posted a couple of job listings associated with blockchain tech as well as NFTs.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
