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Spotify is testing NFTs on musician profiles



 According to media reports, the major music streaming service Spotify is testing the integration of NFT galleries in musician profiles. If these tests are successful, the Non-Fungible Tokens (NFTs) could create significant value for both artists and fans.


According to media reports , Spotify is already conducting the corresponding tests with selected American users of the Android app. This allows them to see thumbnails of their NFTs on the profiles of their favorite artists. So far, however, only DJ and producer Steve Aoki and the indie rock band The Wombats are involved in the tests. Both are already known for their NFT use.


While direct purchases of the digital artworks are not available at this time, fans can still preview and get more information about the NFTs in question on the profiles. If you are interested, you can click to be redirected to the OpenSea NFT marketplace and initiate a purchase there. First, Spotify will not support GIF format or video formats , so the crypto artworks can only be presented as a static image and no sound.


Spotify isn't initially charging a referral fee for NFT sales during the testing phase, though the company hasn't said it plans to do so in the future, per Cointelegraph's request as of press time.


A Spotify spokesman explains that the tests are aimed at "creating value for artists and fans". While some tests could lead to "broad improvements", others could still provide "important learning effects". Some users of the major Swedish streaming service confirm that they have already received a survey related to NFTs.


More and more musicians are now trying out NFTs, because especially in times of the corona crisis, they offered an alternative way of replacing the artists' income that was lost due to concert cancellations. After Mike Shinoda from the band Linkin Park was the first well-known musician to release a single as NFT, the Kings of Leon even released an entire album in the form of non-fungible tokens. Rolling Stone estimates that Steve Aoki has raised $3 million just from the sale of two NFTs .

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