Updated · Jun 24, 2022
Spotify is Trying Our NFT Galleries on Artist Profiles
Updated · May 18, 2022
DJ and producer Steve Aoki and indie rock band The Wombats will take part in the test run.
NFTs on Spotify
Streaming platform Spotify is experimenting with an avenue for music artists to display their NFT collections on their profiles. It rolled out the feature to a small group of artists, as first reported by Music Ally. For now, the test is restricted to select Android users in the United States.
“Spotify is running a test in which it will help a small group of artists promote their existing third-party NFT offerings via their artist profiles,” said a spokesperson for the company in a statement. “We routinely conduct a number of tests in an effort to improve artist and fan experiences. Some of those tests end up paving the way for a broader experience and others serve only as an important learning.”
Non-fungible tokens, or NFTs, are digital assets that represent the ownership of unique items. That one-of-a-kind feature is what differentiates them from other digital assets like cryptocurrency.
Steve Aoki and The Wombats are the artists selected to take part in the test. Both are early adopters of the blockchain-based technology. Their fans will be able to preview NFTs posted to their profiles. From there, they can explore and then buy them on third-party marketplaces.
According to the report, Spotify will not take any cut from potential NFT sales that come from the test run. The data it harvests will help the platform decide whether to roll out the feature fully.
Daniel is an Economics grad who fell in love with tech. His love for books and reading pushed him into picking up the pen - and keyboard. Also a data analyst, he's taking that leap into data science and machine learning. When not writing or studying, chances are that you'll catch him watching football or face-deep in an epic fantasy novel.
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