NFTs may soon be available for artists to showcase on their Spotify pages. The music streaming platform revealed to Music Ally that it is testing a new feature in the app that will allow artists to sell and promote their own NFTs.
Spotify is trying new NFT characteristics with musicians
Spotify has started testing NFT features with a small number of artists in the United States. Music Ally broke the story when a Spotify spokesperson confirmed that the company is conducting a test in which it will assist a small group of artists in promoting their existing third-party NFT offerings through their artist profiles.
The music streaming service will allow a select few artists to endorse their NFTs on their profiles. If the test goes well, artists may well be able to link their NFTs to the system.
Both Steve Aoki and The Wombats appear to be among the artists taking part in the test, and both have been early adopters of NFTs. The test is currently being conducted for ‘select’ users of Spotify’s Android app in the United States, who will be able to show NFTs on the artists’ profile pages. They will also be able to navigate to peripheral online markets to view and purchase them.
According to NFT statistics site Non-Fungible.com, more than $25 billion (€23.8 billion) has been spent on NFTs since 2017, with an additional $21 billion (€19 billion) in secondary sales.
Artists can display NFTs on their profile page during the Spotify trial. Clicking on it will unveil a collection of NFTs for users to browse and explore, albeit The Verge reports that the site does not support NFTs that are GIFS or movies.
Spotify has also included a ‘see more’ button, which takes users to the NFTs website on the Opensea marketplace, where it may be purchased.
As more high-profile artists indicate that they are adopting NFTs as a prospective business model, some of the top social and sharing platforms are investigating potential linkages with NFTs.
Spotify is one of several creator-focused sharing platforms that are now doing research or exploring NFTs as a conduit to assist creators in building communities. Instagram has also stated that it will assist artists and collectors in displaying their NFTs on the site.
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