NFTs are becoming increasingly popular among all businesses – art, music, collectibles, and more. As companies are starting to realize the vast potential that this realm of technology holds, they are emerging with newer ways to leverage it.
Recently, Spotify, the music streaming platform has started testing out ways for helping musical artists to showcase their non-fungible tokens (NFT) collections. In this initiative, the platform is conducting tests to help various small groups of artists nurture their NFT collections. In addition, the goal of the platform is also to enhance the experience of users and artists to foster rewarding experiences and encourage learning.
There are some interesting facts worth mentioning. One such point is Spotify provides options to view the details of NFTs and directs the user to the NFT page on marketplaces like OpenSea to let them purchase it. Another strange point is that it seems the platform does not support NFTs with videos or GIFs – it only shows the static image of the NFT, not the video. Yet another noteworthy point is that while it is a music streaming platform, it doesn’t include any sound. If you wish to listen to the NFT or see its video or GIF, you can only do it through the OpenSea marketplace.
Rumors started around Spotify foraying into the Web3 space, when in March the company posted two job listings related to blockchain technology and NFTs. Yet another instance that pointed in this direction was that some users mentioned that they were seeing a pop-up option on the Spotify app’s page that asked them to provide their opinion on NFTs.
While this page talks of Spotify’s upcoming NFT initiatives, there are many such companies across verticals that are pitching themselves into this stream. Not only in music, but even in sports, art, and other arenas, firms are interested in leveraging NFTs.
This page focuses on such categories of new, out-of-the-box NFT ideas, that companies worldwide are coming up with.
We will keep you posted with news, articles, and other latest updates on these sections! Stay tuned and keep watching this space!
