Spotify Unlocks Exclusive Experience For NFT Holders – Details – Cryptopolitan
Spotify has announced a new pilot program that allows non-fungible token (NFT) holders to access exclusive music playlists, a significant move that shows the streaming giant’s growing interest in Web3 technology.
Details of Spotify’s pilot program
Spotify is testing a new service called “token-enabled playlists” that will allow NFT holders to connect to their wallets and listen to curated music. The service is currently only available to holders of NFTs within the Fluf, Moonbirds, Kingship and Overlord communities. During the three-month test period, the playlists will be actively updated and can only be accessed by community members via a unique link.
Overlord, a web3 gaming and entertainment brand, announced on Twitter that Creepz NFT holders could link their Web3 wallet to Spotify to access a community-curated “Invasion” playlist. Kingship, a metaverse band signed to Universal Music Group, also released a playlist that can only be accessed by Kingship Key Card NFT holders.
How it works
To access the token-gated playlist, users must link their crypto wallets, such as MetaMask, Trust Wallet, Rainbow, Ledger Live or Zerion, to authenticate their NFT and unlock the playlist.
But for now, the feature is only available to Android users in the US, UK, Germany, Australia and New Zealand, and only to Spotify Premium users.
Spotify has confirmed the pilot program, but did not reveal any details about plans to roll out the feature more widely in the future. A company spokesperson stated that they routinely conduct tests to improve the user experience, and some of these tests can only serve as learning.
What it means for the industry
The use of NFTs to unlock exclusive experiences is a growing trend in the music industry, and this move by Spotify could provide a significant revenue stream for NFT projects, artists and labels.
The move also offers a new way for artists and creators to monetize their work, potentially disrupting the current music streaming model.
Spotify has previously experimented with integrating NFTs into its platform by allowing artists such as Steve Aoki and The Wombats to promote their digital art on their profiles.
Regardless, this pilot program is a more significant move, indicating that the company has the technology ready to offer more token-gated content.
The announcement comes just before Spotify’s Stream On event on March 8, where the company is expected to unveil new products and features. It will be interesting to see if the company announces any further plans for NFTs or Web3 technology at the event.
