In recent weeks, Spotify has entered the web3 world with Roblox. With this step, Spotify aims to make progress both in the metaverse and in the field of NFT. The first one is starting to be tested with NFT profiles on Spotify.
NFC in the profile!
These tests plan to allow artists to use NFT in their profiles. It is also reported that these profiles, which will be used for the first time in the US, will be in the profiles of famous artists such as Steve Aoki and The Wombats.
However, Spotify explains that NFTs will not be sold. It is expected that NFTs will be connected to the external NFT market on the platform. Therefore, these NFTs cannot be purchased directly from Spotify. So artists should also promote NFT on Spotify.
Spotify, which reached an agreement with Roblox earlier this month, is currently continuing its tests. However, Spotify also states that there will be no deduction of sales from the relevant market when buying NFT. At the same time, Spotify reports that from time to time it sends out surveys to users and even communicates with some users about NFT and web3. Spotify also offers compensation for negative attitudes towards NFT and web3 during these conversations. Spotify, which often raises this topic on Twitter, tries to keep abreast of the market, as well as user orientation.
What can happen?
Spotify, the music platform, may actually be just the beginning of this step. During this period, when the popularity of music NFTs is growing, Spotify, of course, will not give up business only with profile NFTs. Many platforms are currently promoting music NFTs in Web3, and these platforms continue to be the way to listen to the music of the future.
Thus, Spotify’s gradual entry into the NFT ecosystem may mean that with the help of web3, it may reach its new form. Spotify, which currently owns most of the music industry market, can promise more in web3 with this trump card.