Spotify is Conducting a Test on the Integration
According to a story that was first published by Music Ally, Spotify is now developing a means for artists to exhibit their non-fungible token (NFT) collections. The music streaming platform has begun rolling out the test for certain customers on Android in the United States. The test version presently contains NFT previews for artists such as Steve Aoki and The Wombats.
“Spotify is running a test in which it will help a small group of artists promotes their existing third-party NFT offerings via their artist profiles,” a spokesperson for Spotify said in a statement to Music Ally. “The test will help a small group of artists promote their existing third-party NFT offerings via their artist profiles.”
In their ongoing quest to provide both artists and fans with better experiences, we constantly put a variety of hypotheses to the test. Some of those examinations ultimately pave the path for a more extensive encounter, while others just serve as an essential learning opportunity. The Verge’s request for comment from Spotify was not met with an instant response from the company.
The number of businesses who are attempting to ride the NFT wave is growing, but it seems that the initial rush may be leveling down (at least for the time being).
It has been reported by The Wall Street Journal that daily sales of NFTs had decreased by 92 percent, going from 225,000 in September of the previous year to barely 19,000 as of May 3rd.
A similar trend can be seen with the number of active NFT wallets, which dropped from about 119,000 in November to 14,000 near the end of April.
New Spotify Update allows Access to Test
After installing the latest version of Spotify, I discovered that I now have access to the test. When I browsed the artist sites of both Steve Aoki and The Wombats, I saw that the NFT gallery is located under the artist’s header and song list.
This is also the case with The Wombats’ artist website. When you click on it, you will be presented with a list of NFTs that you may browse through. If you pick an NFT, you will be presented with an enlarged representation of it along with a condensed explanation of what it is.
Additionally, Spotify will provide you with the option to “See More,” which will take you to the NFT’s website on OpenSea, where you may make a purchase of the track. It is important to bear in mind, however, that Spotify does not seem to accept NFTs that are movies or GIFs.
Instead of displaying the complete video in the app, Spotify just displays a still picture of the NFT. In addition, it does not have any sound, which is really odd for a site that allows users to stream music. Only by going through to the NFT’s website on OpenSea will you be able to listen to it, as well as determine whether or not it is a video or a GIF.
Spotify aims to Join Web3
According to Music Ally, Spotify will not take a cut of any non-free-to-play (NFT) revenues generated via the app; the company is now merely testing the connection. It is also unclear if the test has been made available to any other musicians or whether it is now just accessible to Steve Aoki and The Wombats for the time being.
In March, rumors began to circulate about Spotify joining the Web3 field when the business submitted two job postings linked to blockchain technology and NFTs.
These listings were intended to attract candidates with expertise in these areas. Some users have reported seeing a poll come up on the Spotify app that asks them about their opinions on NFTs as well, which is something that Music Ally highlights. Last week, in addition to Spotify, Instagram began testing NFT integration as well.