Spotify, the world’s largest music streaming platform, is reportedly testing the integration of nonfungible token (NFT) galleries on musician profiles. If the trial is successful, the embedding of NFTs will benefit both artists and fans.
On Friday, it was reported that Spotify is conducting a test for select users of its Android app in the United States. These users can view the NFT previews on the artists’ profiles. There are currently only two such artists, DJ and producer Steve Aoki and indie rock band The Wombats, both of whom are known for their use of NFTs.
Although direct purchases are not possible, the user can tap to be redirected to the OpenSea page, where they can purchase the item after reading about the NFT and seeing an enlarged preview. Spotify, according to reports, does not support videos or GIF formats instead of displaying a static image with no sounds.
Musicians are actively exploring the NFT market, which could be a vital income stream, especially as COVID-19 continues to disrupt international touring.
On Twitter, some Spotify users reported receiving the NFT-related survey from the streaming service. According to Music Ally, Spotify is not taking a cut of NFT sales during the trial.