Moonbirds partners with Spotify to enable NFT Music Unlocks
The integration of Spotify with NFT projects, including Moonbirds, has helped the stock increase by more than 80 percent YTD.
The Moonbirds (MOONBIRD), an Ethereum ERC-721 NFT token with a total supply of 10k units, has announced a strategic partnership with Spotify Technology SA (NYSE: SPOT ) to enable NFT holders to unlock certain music creations on the online platform. According to the announcement, Moonbirds owners in the US, UK and Australia, a few select geographic regions can access the Moonbirds playlist called Sounds of a Digital Renaissance on the Spotify platform.
However, only Android Moonbirds users will get access to the pilot program, according to the announcement.
Reportedly, the Moonbirds developers see the partnership with Spotify as an opportunity to onboard Web2 to Web3 through the NFT industry. As a result, NFT holders have a chance to unlock more utility while still holding their assets on the blockchain.
In particular, Sounds of a Digital Renaissance was curated by Twitter user @dannylee, with the help of SongBirds, @TheSongBirds.
“This playlist will feed the creative minds of our community and artists, featuring multi-genre hits from artists like Tame Impala, Diplo and more,” Moonbirds noted.
The Moonbirds team promised to continue building more utility for its NFT holders to enable value creation. Also, there are thousands of NFT projects throughout the blockchain industry all competing for the same markets.
Moonbird’s finances
According to market data provided by CoinGecko, the MOONBIRD NFTs hit a bottom price of 2.08000 ETH, worth approximately $3,673.92 on Friday 12 May. In addition, the Moonbirds NFT project had a market cap of approximately 20,800 ETH, worth approximately $36,739,241 and a daily traded volume of around 80.47 ETH.
With around 10,000 unique digital assets, the Moonbirds project reported a total of 6,449 owners. Currently, the MOONBIRD NFTs are available for trading on OpenSea and LooksRare.
However, OpenSea had the majority of Moonbird’s NFT volume in the last 24 hours.
Spotify uses NFT to expand its market
Earlier this year, the KINGSHIP NFT Project, a subset of Board Apes signed to Universal Music Group (UMG), announced a strategic partnership with Spotify in a pilot program to help unlock specific playlists.
“All you need is a KINGSHIP Key Card NFT to unlock this playlist on Spotify. Currently this pilot is only available for Android users in the US, UK, DE, AU and NZ,” says KINGSHIP noted.
Likewise, the partnership with Kingship was only made available to Android users since Apple introduced some internal guidelines limiting the features of NFTs.
The integration of Spotify with NFT projects, including Moonbirds, has helped the stock market reach more than 80 percent YTD. According to the latest stock market data, Spotify shares are trading at around $142.68, down 2.98 percent today.
next
