Spotify Operates Pilot for Token-Enabled Playlists with NFT Companions

Spotify is screening a new assistance – “token-enabled playlists” – with one particular of its associates to empower non-fungible token (NFT) holders to join their wallets and access curated new music. It is at the moment in the pilot period.

The new services was designed in partnership with the World wide web3 gaming ecosystem, Overlord, and will involve a token-enabled group-curated playlist that can be accessed through Internet3 wallets of these who hold the Creepz NFTS on Spotify.

• In accordance to the official announcement, the services will be obtainable to only Android consumers from the United States, United Kingdom, Germany, Australia, and New Zealand.
• Apart from Overlord, the merchandise is obtainable to token holders in the Fluf, Moonbirds, and Kingship communities.
• Common Songs Group’s NFT band Kingship discovered creating a token-gated playlist for NFT holders that will characteristic Queen, Missy Eliott, Snoop Dogg, and Led Zeppelin. Its tweet browse,

“We’re all about unlocking actual price for our neighborhood and pushing the boundaries of new music and blockchain, and possessing our holders be at the forefront of this space”

• The screening period is made up of a few months, all through which the curated playlists will be actively current and can only be accessed by group users with the enable of a special url.
• Spotify finished 2022 with superior-than-envisioned consumer expansion inspite of widening quarterly losses.
• The earnings report confirmed that it increased 18% YoY in the fourth quarter raking in 489 million monthly active customers.
• This is not Spotify’s initial tryst with the NFT sector. In simple fact, the system earlier ran a test to assist a modest team of artists, this sort of as Steve Aoki and The Wombats, promote their current third-social gathering NFT choices via their artist profiles.