Music streaming giant Spotify expands its Web3 explorations by testing token-enabled playlists in several key markets.
Spotify is experimenting with a Web3 technology with token-enabled playlists, which enables non-fungible token (NFT) holders to connect their wallets and enjoy customized music.
The service is presently only available to token holders in the Fluf, Moonbirds, Kingship, and Overlord communities. During the three-month trial phase, the curated playlists will be frequently refreshed and can only be accessed by community members through a one-of-a-kind link.
For now, only Android users from the United States, United Kingdom, Germany, Australia and New Zealand can unlock the playlists.
Overlord, a Web3 gaming ecosystem, expressed its excitement about the partnership on Twitter yesterday.The community-curated playlist from Overlord ca now be accessed via Web3 wallets of those who hold the Creepz nonfungible tokens (NFTs) on Spotify.
https://twitter.com/Overlord_xyz/status/1628485145706614792
Other participants in the three-month pilot are Fluf, Moonbirds and Kingship metaverse communities. Kingship confirmed its participation in a pilot on Twitter. To unlock the tracklist, including the hits by Queen, Missy Eliott, Snoop Dogg and Led Zeppelin, the user should possess a Kingship Key Card NFT.
https://twitter.com/therealkingship/status/1628484792214859780
Music, NFTs and Web3
In 2022, Spotify began testing the NFT galleries on musicians profiles,allowing users to preview the artists NFTs and be redirected to the OpenSea page where they could purchase the items.
The music market remains one of the promising areas of crypto and We3 adoption. Just last week music platform Napster announced the acquisition of Mint Songs, an NFT marketplace that helps musicians build Web3 communities.
The music industry has been investigating opportunities in Web3, including major corporations like Warner Music Group. They are exploring a range of possibilities, from employing NFTs as tickets for festival admission to minting newly released music as NFTs and grasping music royalties in the realm of Web3. As more musicians and artists join Web3, there is growing concern about the current state of the music industry.
