Sunday, June 26, 2022

Spotify is experimenting with musicians’ NFT galleries

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Shreya Christina
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Spotify is testing a way for artists to display their non-fungible token (NFT) collections, as first reported by Music Ally† The music streaming platform has rolled out the test for some users on Android in the US and currently features NFT previews for artists like Steve Aoki and The Wombats.

“Spotify is conducting a trial in which it will help a small group of artists promote their existing third-party NFT offerings through their artist profiles,” a Spotify spokesperson said in a statement. Music Ally† “We regularly conduct a number of tests to improve the experiences of artists and fans. Some of those tests ultimately pave the way for a broader experience, and others serve only as important lessons.” Spotify did not immediately respond to The edge‘s request for comment.

More companies are trying to catch the NFT wave, but it looks like that first wave could wane (at least for now). According to The Wall Street Journal, daily NFT revenue is down 92 percent from 225,000 in September last year to just 19,000 on May 3. The number of active NFT wallets is also declining, from around 119,000 in November to 14,000 by the end of April.

You can view NFT galleries of selected artist profiles.

I found myself accessing the test after updating Spotify. When I navigated to the artist pages of both Steve Aoki and The Wombats, I saw that the NFT gallery is below the artist’s headline and track list. Clicking on it will bring up a collection of NFTs for you to browse. If you select an NFT, you will see an enlarged version of it, as well as a short description.

Spotify also gives you a “See More” option, which takes you to the NFT page on OpenSea where you can buy it. But keep in mind that Spotify doesn’t seem to support NFTs that are videos or GIFs – Spotify only shows a static image of the NFT in the app, not the full video. It also contains no sound, which is rather strange for a music streaming platform. You can only listen to the NFT or see if it’s a video or GIF by clicking through to the page on OpenSea.

According to Music AllySpotify does not collect any commission for any NFT sales through the app and only tests the integration. It’s also not clear whether the test has been made available to other artists or whether it will be limited to Steve Aoki and The Wombats for now.

Rumors of Spotify entering the Web3 space surfaced in March after the company posted two job postings related to blockchain technology and NFTs† if Music Ally notes, some users report: see a survey pop up on the Spotify app that also asks them about their feelings about NFTs. In addition to Spotify, Instagram also started testing NFT integration last week.

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