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Spotify Artists Could Soon Promote Non Fungible Tokens (NFTs)

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VOC, Voice of Crypto, Spotify, NFTs

It looks like artists could soon have an opportunity to promote their non-fungible tokens on Spotify. A trial rollout has started, according to the report from MusicAlly – which sources say is very excited about this prospect.

The latest tech company to jump on the NFT bandwagon, Spotify, dived into the web3 world earlier this month (May 3) when they launched “Spotify Island” on Roblox. Spotify is testing new, custom listener experiences on the platform by launching an NFT trial with select artists. The first group of participants includes Steve Aoki and Wombats.

Spotify will not sell NFTs directly, but they are launching a new test that could change the future of music sales. In order to purchase NFTs from the test market, users will need to go through an external marketplace. Spotify has said they won’t take any cut of sales as part of this phase-in period and won’t charge any fee for the service!

To collaborate on this report, some users have reported that Spotify is sending out surveys and even offering people compensation for chats with team members about user attitudes toward NFTs or web3.

Some of the questions shared on Twitter were about the sentiment of NFTs, crypto-related purchases, and why people bought them in their posts. The responses were met with derision by many who posted them on Twitter because they felt like they were transparent attempts at manipulation rather than genuine interest from an open dialog box for discussion. While some users think it is a welcome development.

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Spotify has been making moves to get into the world of blockchain. In March, the company posted two job ads for people with experience working on early-stage web3 projects, and it now looks like they’re ready for NFT.

As of the time of publishing, there are no official reports from Spotify concerning this development.

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Adekunle Joshua is a cryptocurrency writer. He has a deep understanding of the technology and how it can be used to improve the world. James is a strong advocate for using cryptocurrency to make the world a better place. He wants to help people understand the technology and use it to improve their lives.

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