Over the last few months we have read and heard a multitude of information related to what are known as Non-Fungible Tokens or NFTs. These digital goods are gradually spreading to both end users and companies. Now we are going to tell you how we can make use of all this on the best-known music streaming platform, Spotify.
Among the pioneering companies that began to bet on these virtual currencies were those related to the world of video games. All this despite the fact that a multitude of users and even their workers did not agree at all. But over time these NFT they have been spreading to all kinds of platforms and services, including content from end users.
Well, one of the most recent information related to all this is its arrival on the popular platform of streaming music known to most Spotify. Many of you probably make use of this music service, either for free or through a paid account. As far as we know, this audio provider is now entering the world of NFTs in order to actively participate in the NFT trade.
As other companies have done, this is something that Spotify is going to do gradually. To give you an idea of what we are talking about, he is currently testing a function that allows a small group of artists promoting NFTs on their respective profile pages. We must also take into account that all this is being tested on certain users residing in the US.
Spotify bets on NFTs on the music platform
At the same time, while Spotify continues its commitment to connecting artists with their fans, points out that the reason for this new project goes along the same path. In fact, he confirms that many partners in the music industry have insisted that the company take this step. The arrival of NFTs on Spotify started earlier this month. At that time, several users of the music service reported that they had received a survey about the arrival of these goods on the platform.
The message hinted at the possibility of giving users the ability to purchase a limited edition multimedia NFT that could become a collector’s edition. In addition, it was asked about how much they expected an NFT to cost specific. Prices ranged from free to over $150. They also wanted to know how and where they would be used later. Shortly after the company confirmed the existence of the project as such.
Thus and from what is now known, the music platform Spotify is carrying out a test that will help a small group of artists to promote their NFT offers through their profiles. With all this, what is intended is to improve the experience of both the artists themselves and that of their followers. At the same time, these tests end up paving the way for a broader experience for both parties, as is now the case with NFTs.
What’s more, in addition to allowing artists to promote their NFTs, the idea is to give users the ability to preview their NFTs on each other’s profile page. So they can see their details and buy them through some external market.
