Spotify to roll out test for musicians to display NFT collections

Audio streaming platform Spotify is reportedly experimenting with a way for artists to showcase their NFTs (non-fungible tokens) collections.

Spotify has released the test for some Android users in the United States. It currently includes NFT previews for artists like The Wombats and Steve Aoki.

According to a credible source, the music platform is running a test where a small group of artists endorses their current third-party NFT offerings through their artist profiles.

Spotify conducts several tests to enhance fan and artist experiences. Some of these tests end up becoming broader experiences and others as important learnings.

Several companies are riding the NFT wave, but it seems that the initial momentum has waned for the time being.

Experts state that daily NFT sales have reduced by 92% from 225,000 in September 2021 to just 19,000 as of May 3rd. Furthermore, the number of active NFT wallets has reduced from 119,000 in November to 14,000 by the end of April.

After updating Spotify, some users received access to the test. Users directed to the artist pages of The Wombats and Steve Aoki noted that the NFT gallery lies beneath the artist’s song list and header. Clicking on the gallery opens NFT collections that users can scroll through. If any user selects an NFT, they see its enlarged version along with a brief description.

Furthermore, Spotify will provide the option to See More, which navigates users to the OpenSea NFT page where they can purchase it. But the audio streaming platform does not support video or GIF NFTs. It only displays a still image of the NFT in the app and not the entire video.

Additionally, it does not include sound which seems odd for an audio streaming platform. Users can listen to or see the video or GIF of the NFT by clicking through its OpenSea page.

Spotify would not charge a commission for any NFT sales made via the app and is currently just testing the integration.

Source credit:

https://www.theverge.com/2022/5/16/23074909/spotify-experiments-musician-nft-galleries