Spotify to integrate NFTs for playlist

Music brand, Spotify has been tinkering with NFTs and will now be bringing NFT-gated music playlist into its platform. The service will allow users of the music platform to access a certain playlist using defined NFTs. The new feature is in collaboration with Overload, a Web3 gaming and media company with a series of playlists on Spotify.

Token-gated playlists are a series of songs that are created and only allowed to be accessed by users with specific NFTs tied to the playlist.

Aside from the Overload community, followers of Fluf, Moonbirds, and Kingship will have access to the same services on Spotify. According to Overload, selected playlists will be updated in the three-month testing period initiated by the company.

Speaking on the new update, Spotify said that this NFT integration into its platform, which is not the first, is an effort to give its users the best experience. As they test several ideas which they always do, “some of those end up paving the path for our broader user experience and others serve only as important learnings”. 

While Android users, on the Spotify Premium plan, can access this new service, iPhone users are limited. iPhone has not been in tune with Web3 NFTs after releasing new NFT rules in October 2022.

Spotify and Web3 

In 2022, Spotify announced it was hiring a senior manager of Innovation and Market Intelligence in web3 technologies and a senior back-end engineer to help explore opportunities in the crypto world that are connected to music. Other firms that have explored Web3 include Sony, Warner Music Group, Netflix, and Universal Pictures.

Music NFTs, unique non-fungible tokens designed to store music files, is a new trend in the entertainment industry. It brings full ownership of musical assets to artists without the need for a centralized governing body.

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