Spotify is testing a new profile feature that lets select artists promote their NFTs.
Spotify is testing a new profile feature that lets select artists promote their NFTs. The feature allows artists to share their NFTs on Spotify and offer fans the opportunity to purchase them directly from the platform.
This follows news earlier this week that Spotify is also testing a way for listeners to buy NFTs directly from the platform.
Spotify tested the new profile feature with select artists, including Andy Grammer, who shared his NFT on his artist profile page and allowed fans to purchase it directly through Spotify’s website.
The move would be a significant step for Spotify as it looks to expand beyond its core music streaming business and bring more e-commerce capabilities to its platform. The company recently acquired blockchain startup Mediachain Labs as part of its efforts to expand into digital marketplaces.
If you’re not familiar with NFTs, they’re non-fungible tokens (NFTs) created by blockchain technology company Rarebits that let users trade digital assets in a digital marketplace.
In this case, these artists are using their own NFTs to promote their albums and singles on Spotify’s artist profiles — but not just any album or single. You can only see the promoted albums if you’ve actually listened to or bought the song before (or if you’re following them).
Spotify is testing a new profile feature that lets select artists promote their NFTs. The quality, which Coindesk first spotted, has been spotted in the profiles of artists, including U2 and The Weeknd. It’s unclear whether this is just an experiment or if it will be rolled out to more artists in the future.
Spotify’s new profile page feature allows artists to display their NFTs alongside other information, including upcoming tour dates and album releases. There are no links or buttons on these pages, so it’s unclear how Spotify users would be able to purchase one of these NFTs through the platform.
The feature could be a way for Spotify to bring users back into its app after leaving for something like CryptoKitties or CryptoCelebrities, allowing users to sell digital assets on its platform.
Spotify’s promotional material says that once an artist is verified, they can share their NFT via social media platforms like Instagram and Facebook. The company also adds that “all users will be able to see your profile on Spotify once you are verified, so make sure you provide all necessary details for us to verify your account.”
“Artists who have been invited to participate can have a more personal connection with their fans through music streaming while offering unique experiences through the exchange of digital assets,” says a blog post from Spotify.
