Spotify, the world’s most popular music streaming service, is said to be experimenting with the integration of Non Fungible Tokens (NFTs) galleries on musician profiles. The embedding of NFTs will benefit both artists and fans if the study is successful.
Spotify is undertaking a test for selected Android app users in the United States, according to reports published on Friday. These users have access to the NFT previews on the artist pages. Only two musicians are now known for using NFTs: DJ and producer Steve Aoki and indie rock band The Wombats.
Although direct purchases are not feasible, the user can click on the OpenSea page, where they can learn about the NFT and see an enlarged preview before purchasing the item. According to sources, Spotify does not support videos or GIF formats and instead displays a static image without sound.
Musicians are looking into the NFT market, which might be a lucrative source of income, especially as COVID-19 continues to disrupt international touring.
Some Spotify users claimed to have received the NFT-related survey from the streaming provider via Twitter. Spotify is not getting a cut of NFT sales during the experiment, according to Music Ally.