Spotify tests token-enabled playlists in several key markets as part of its Web3 effort.
In February, Overlord, a Web3 gaming ecosystem, announced a partnership with Spotify. Users of Creepz nonfungible tokens (NFTs) on Spotify can now access Overlord’s token-enabled community-curated playlist through Web3 wallets. Playlists can only be unlocked by Android users in the United States, the United Kingdom, Germany, Australia and New Zealand.
Fluf, Moonbirds, and Kingship metaverse communities are also participating in the three-month pilot. Kingship confirmed its participation in a pilot on Twitter, but Fluf and Moonbirds did not disclose details about their partnership with the streaming service. Users must have a Kingship Key Card NFT in order to access the tracklist, which includes hits by Queen, Missy Eliott, Snoop Dogg, and Led Zeppelin.
Viberate’s native token (VIB) rose 33% after the announcement, while Audius (AUDIO) and Rhythm (RHYTHM) rose 4% and 2.5%, respectively.
Spotify began testing NFT galleries in May 2022. Although there was no direct purchase option, users were redirected to the OpenSea page where they could shop for NFTs.
Crypto adoption continues to grow in the music industry. In late January, Fountain, a value-for-value podcasting platform, partnered with Zebedee to make Bitcoin micropayments available to podcast listeners. As part of a collection of 300 NFTs in February, Rhianna’s hit 2015 song, “Bitch Better Have My Money,” was offered for royalty rights.
