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Spotify Steps into the Digital World of NFTs

The popular streaming platform, Spotify, is currently experimenting with a new feature on the platform. The feature will allow some selected artists to promote their NFTs using their profiles.

In an interview with Techcrunch on Monday, the music platform confirmed the news and said that the test would only be open to a small number of US users.

A spokesperson has also confirmed the NFT news as contained in a statement stating that, “Spotify is running a test in which it will help a small group of artists promote their existing third-party NFT offerings via their artist profiles.” The spokesperson mentioned that Spotify conducts periodic tests on ways to improve artists’ and fans’ experiences, and this is one way of optimising the relationship.

Profile of NFTs on Spotify

The way the test is expected to run is for the selected users to be able to check out some NFTs available on an artist’s profile page. There will be options available that will allow users to get more information about the NFT they see, and if they are interested in the NFT, the platform will lead them to a third-party platform where they can purchase the NFT. During the phase of this test, there is no fee connected to this feature yet.

Spotify has stated that the launch of this test feature is a direct response to the evolving needs of various partners and that this also falls within the objectives of the streaming platform. This change will also give artists a chance to get closer to their fans by letting them connect with their art.

Spotify has been actively working on this new feature since last year, and the development started with the collaboration of the music platform with other companies such as Shopify to allow the full optimisation and visibility of artists. 

This form of development is not only limited to Spotify alone. Several other social platforms have been seeking ways to enhance their positioning with blockchain technology. In the previous weeks, the social media giant, Instagram, started testing the use of NFTs on its platform, with speculation of other social media platforms following suit.