Non-fungible tokens (NFTs) are now getting a more widespread presence on various platforms. The latest detail to know is their arrival on Spotify.
Indeed, even the said audio streaming and media services provider is driving into the world of NFTs now after confirmation (via Techcrunch and Music Ally) that it is testing a feature to allow “a very small group of artists” to promote NFTs on their respective profile pages. It is currently being tried on select Android users in the US as Spotify continues its vision to further deepen the connection between artists and their fans. The company notes that the reason behind this new project also roots in the urging of its industry partners.
Earlier this month, various Spotify users reported receiving a survey regarding the idea of having NFTs on Spotify. The message hinted at giving users the ability to buy “a limited edition multimedia NFT” that can become a “collector’s edition.” Apart from that, it asked the participants of the survey how much they would expect a particular NFT cost (ranging from free to over $150) and how and where they would use it. The company later confirmed the existence of the project.
“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,” a spokesperson for Spotify told Music Ally. “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.”
Apart from allowing artists to promote their NFTs, the idea is to give users the ability to see the preview of NFTs on the artist’s profile page, view its details, and purchase them via an external marketplace. Spotify, on the other hand, promises that NFTs under its test now are currently free of any fee.
Spotify will join other prominent companies injecting NFTs on their platforms. Last week, Instagram Head Adam Mosseri announced that it started testing NFTs, while Meta CEO Mark Zuckerberg said the feature could come to Facebook and other Meta-owned apps, too.