The music streaming service is working with different digital asset companies to test NFT-enabled playlists for token holders.
Spotify Pilot Spurs Demand For Audio Tokens
Spotify, which is the world’s largest music and audio streaming platform, is dabbling in an experiment about token-enabled playlists. The feature, if enabled, would allow NFT holders to connect their wallets to the Spotify app and access music collections curated by certain blockchain-based companies, like Overlord and Kingship. The feature is already live for testing for Android users based in the United States, United Kingdom, Germany, Australia, and New Zealand.
A spokesperson for Spotify, who was asked to elaborate further on the news, gave the statement:
“At Spotify, we routinely conduct a number of tests in an effort to improve our user experience. Some of those end up paving the path for our broader user experience and others serve only as important learnings. We have no further news to share on future plans at this time.”
The announcement has led to an increased demand for Web3 music tokens. Blockchain companies like Viberate (VIB), Audius (AUDIO), and Rhythm (RHYTHM) all recorded significant surges in token values since the pilot was announced.
Overlord Announces Invasion Playlist
On Thursday, blockchain gaming company Overlord announced on Twitter that it was one of Spotify’s partners for the pilot of the Web3 integration. Their playlist, dubbed Invasion, which has been curated by the Overlord community, would be accessible to the Creepz NFT holders in the above-mentioned countries.
The team tweeted,
“We’ve been selected as one of Spotify’s partners in a new pilot…Access our Invasion playlist by connecting your Web3 wallet on Spotify…This is just the beginning of our audio adventure…Explore our first community-curated playlist now.”
Bored Ape Joins Spotify Pilot
Other blockchain platforms are also participating in this pilot, which will be tested for three months. These blockchain companies include Fluf, Moonbirds, and Kingship. While the first two have yet to share any details of their involvement in the pilot project, Kingship (virtual metaverse band featuring Bored Ape characters) has tweeted about its participation.
“We, KINGSHIP strive to ALWAYS be at the forefront of technology and music. Now, we’re taking this commitment a step further by launching a brand new token-enabled playlist with Spotify…We’re all about unlocking real value for our community and pushing the boundaries of music and blockchain, and having our holders be at the forefront of this space.”
The Kingship playlist features some major artists like Queen, Missy Eliott, Snoop Dogg and Led Zeppelin and can be accessed by the KINGSHIP Key Card NFT.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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