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Spotify is testing new NFT options with music artists 

Spotify is testing new NFT options with music artists  thumbnail
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Spotify has begun testing NFT options with a choose few artists within the U.S.

The information was first reported by Music Ally when a spokesperson for Spotify confirmed that:

“Spotify is operating a take a look at wherein it would assist a small group of artists promote their current third-party NFT choices by way of their artist profiles”.

The music streaming big will enable a choose variety of artists to advertise their NFTs on their profile pages.

If the trial goes effectively, artists who’ve embraced NFTs as an avenue for fan engagement equivalent to Deadmau5, Grimes and Tory Lanez might be able to join their NFTs with the platform.

Spotify is evident that that is only a take a look at, and they won’t be promoting NFTs straight on the platform. However, Spotify customers can click on by means of to the NFT marketplaces the place the artist lists their NFTs. Spotify is not going to take any fee from these gross sales. 

Earlier in May, the corporate launched Spotify Island within the Roblox metaverse — a powerful sign of exercise and experimentation with Web3 applied sciences. 

Platforms catering to Web3 artists and musiciansSome of the main social and sharing platforms are exploring the potential integrations with NFTs as extra high-profile artists announce that they’re utilizing NFTs as a potential income mannequin.

In April, Linkin Parks co-founder Mike Shinoda was picked up by Warner Recorded Music to assist form the corporate’s artist-centric method to Web3. His generative mixtape ‘Ziggurats’ was launched as a group of 5,555 NFTs on the Tezos blockchain and bought out in minutes in December 2021.

Spotify is only one of many creator-focused sharing platforms that at the moment are both conducting analysis or evaluating NFTs as a channel to assist creators construct communities. Instagram has additionally confirmed that it’ll help creators and collectors in showcasing their NFTs on the platform.

More musicians and artists are adopting NFTs as a further income stream as they study concerning the direct connections with followers. Since King of Leon famously turned the primary Band to launch an album as an NFT in March of final 12 months, artists worldwide have begun exploring NFTs as a channel of promotion and connection for the longer term.

Lisa Gibbons Contributor at CryptonomieA self-starter, and blockchain advocate with a love for artistic writing, Lisa started writing about post-colonial identities in 2012 and has stored up her love for the written phrase.

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