- February 23, 2023
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Web3 and NFT use cases have reached a new level with Spotify’s new “Token-enabled Playlists.” A Web3 gaming and Media entertainment platform, Overlord, announced the news on February 22 via Twitter.
According to the announcement, the service will allow non-fungible token holders to connect their Web3 wallets and listen to a selected music playlist. The service pilot is now available to android users in the UK, US, Australia, Germany, and New Zealand.
Special Playlist For Users Through Web3
The music industry saw several NFT funding rounds, sales, and partnerships as several firms and artists, including Spotify, embraced Web3. Spotify is a global digital podcast, music, and video service platform that enables users to stream millions of music playlists and other content.
The latest development could be a further step into the Web3 space. Last year, the platform allowed artists to add non-fungible tokens (NFTs) to their profiles.
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The new report claims that the token-enabled playlist service is available to NFT holders on Fluf, Overload, Kingship, and Moonbirds platforms. The service would allow users to access carefully selected music playlists subject to updates during the three-month pilot. Also, it would only be accessible to members of the communities through a unique link.
As per Overlord’s tweet, only holders of its Creepz NFT project can connect their Web3 wallets on Spotify to access the curated playlist. Although Overlord broke this news, the Spotify team confirmed it with a tweet reply, expressing their excitement to explore the new offer.
The Universal Music Group NFT band Kingship also shared the story on its Twitter page. The platform noted that it created a token-enabled playlist for NFT holders, featuring artists such as Queen, Snoop Dogg, Missy Eliott, and Led Zeppelin.
Also, Apoorv Lathey, the lead developer at NFTX, an NFT liquidity protocol, shared a screenshot from the new service pilot. The screenshot showed step-by-step instructions to connect to Kingship’s selected playlist on Spotify.
Following Lathey’s screenshot, NFT holders can access the service when they link to their Metamask, Ledger Live, Rainbow, Trust Wallet, or Zerion wallets.
Spotify And Others Stepping Deeper Into Web3
In a statement, a spokesperson for Spotify told reporters that the platform conducts routine tests to improve its user experience. Per the spokesperson, some of the tests allow for a better user experience while others end up as learning processes.
This statement implies that Spotify is committed to providing the best services for its users. However, the firm did not give more details regarding its plans for a public roll-out of the service when the pilot ends.
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Spotify isn’t the only music platform to enable a Web3 and metaverse entertainment experience. Other musical platforms such as Audius have threaded this path, adding features that allow users to earn money from listening to music.
Audius, a crypto-related music streaming service, has a feature that allows users to earn rewards in AUDIO (Audius native token) for using the app. Also, other firms, such as Royal and Anotherblock, enable artists to sell music royalties as fractionalized NFTs.
Featured image from Spotify, Chart from TradingView.com
