Musicians can utilize Spotify’s artist profile pages to advertise merchandise and tour dates in addition to their current tunes and playlists. They may soon be allowed to promote NFTs on those pages as well. Spotify has begun testing NFT galleries, as first reported by Music Ally. The capability is only available to a small number of Android users in the United States, including Web3 fans like Steve Aoki.
If you have access to the test, go to one of the included artist pages and scroll past the song list to see the galleries. By tapping on an NFT, you may see a larger version of it as well as a brief description. According to The Verge, clicking “See More” takes you to the NFT’s OpenSea listing page, where you may buy the token. Spotify isn’t receiving a commission on sales it facilitates during the pilot, according to Music Ally.
However, it’s unclear whether the functionality will be retained:
“Spotify is testing how it can assist a limited group of artists to market their existing third-party NFT offers through their artist profiles,” a Spotify representative stated. “We do several tests regularly to optimize the artist and fan experience. Some of these assessments pave the way for a more extensive encounter, while others are only useful learning tools.”
Spotify’s spokesperson noted that the firm is doing several tests to improve the platform’s experience for both musicians and listeners. However, it should be noted that some exams just produce something for learning reasons, while others open the door to a broader experience.
However, according to a study, Spotify does not sell NFTs; rather, the platform acts as an intermediary between consumers and artists for advertising.
The data gathered during this test will aid Spotify in deciding whether or not to make this tool available to all artists, as well as if Spotify decides to do so. In the future, NFTs will be used for something more grandiose. More businesses are attempting to ride the NFT wave. The arrival of NFTs on Meta’s social networks was just formalized. Despite this, the bubble appears to be bursting: daily NFT sales have dropped 92% from 225,000 in September of last year to barely 19,000 as of May 3.
Furthermore, the outcomes of the test will allow the platform to decide whether or not to roll out such a feature to all artists and whether or not to do anything more radical with these tokens shortly.
Furthermore, several platform users have provided information concerning a poll that appeared on their phones on Tuesday morning. This experiment was carried out to learn their thoughts on the implementation of non-fungible tokens.
What was the reaction of the NFT community?
Spotify encouraged some of its users to participate in an NFT-related poll in addition to showcasing artists’ NFT galleries. Some members of the community were ecstatic, while others were less so.
Despite this, the corporation appears to be continuing with its NFT test feature. After all, several other major entertainment corporations have previously successfully entered the industry. Spotify’s rival YouTube, for example, confirmed their NFT integration in January!
How the rival YouTube is incorporating NFTs?
YouTube’s CEO, Susan Wojcicki, is wary about how the site will incorporate web3. The platform’s goal is to support and provide extra monetization options to creators, allowing tiny producers and artists to earn more money. Susan believes that NFTs on YouTube will be a game-changer because the platform’s system records all videos, allowing stolen NFTs to be detected. The most effective NFT marketplaces can’t match YouTube’s tight copyright policies and sophisticated algorithms.
Final Note
Spotify doesn’t appear to allow video or GIF-based NFTs for the time being, so the test is confined to thumbnail previews or photos. You also can’t tell what kind of NFT is in the previews unless you click see more and go to the actual listing, which exits the app. Some users have also reported seeing surveys as part of the test, which collect comments on their thoughts on NFTs.
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