Spotify Begins Testing NFT Gallery Feature on Artist Pages in the US 4j1m5c Technology News

Spotify allows s the option to 'See More', which directs them to the NFT's page on OpenSea. 83t4y

By Shomik Sen Bhattacharjee | Updated: 17 May 2022 17:40 IST

Spotify Begins Testing NFT Gallery Feature on Artist Pages in the US

Photo Credit: Reuters 3v6d2p

Spotify is currently just testing the new feature with a handful of Android s

Highlights

The feature is currently available to a handful of Android s
Spotify doesn't let s buy NFTs through its new feature
Spotify has been trying to find ways to enter the Web 3 space

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Music streaming giant Spotify is testing a new feature on its artist profile pages, which showcases non-fungible token (NFT) collections and allows artists to promote NFTs they own on their profile pages. For now, only a handful of Android s in the US can check out the new feature and from what we know, the app displays an NFT gallery on some of the top artists involved in the NFT space, including DJ, record producer, and music programmer Steve Aoki and English indie rock band The Wombats.

Artists can promote their third-party OpenSea. It is worth noting that Spotify is currently not taking a commission for sales that may result from the gallery feature.

In a statement to Music Ally, Spotify said, "Spotify is running a test in which it will help a small group of artists promote their existing third-party NFT offerings via their artist profiles. We routinely conduct a number of tests in an effort to improve artist and fan experiences. Some of those tests end up paving the way for a broader experience and others serve only as an important learning."

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The streaming giant is reportedly Web 3 components and map out the next big step for the music streaming giant.

"You will work facilitate collaboration with product, insights, and design to uncover the next growth opportunity leveraging new technologies, like Web 3," Spotify's LinkedIn job post read at the time.

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As more and more companies try to catch the NFT wave, it looks like that initial surge has been watered down for now. According to The Wall Street Journal, daily NFT sales have dipped 92 percent from 225,000 in September of last year to just 19,000 as of May 3. The number of active NFT wallets is also on the decline, from about 119,000 in November to 14,000 towards the end of April.

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