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Music Giant Spotify Steps into the NFT World with Token-Enabled Playlists

Spotify, the music streaming service, has announced in a conversation with Coin Desk that it is testing a new service called “token-enabled playlists.” This service will enable non-fungible token (NFT) holders to connect their wallets and listen to handpicked music.

Token holders in Moonbirds, Fluf, Overlord, and Kingship can now use the service. The selected playlists will be actively updated throughout the three-month beta and exclusively accessible to community members via a special link.

Overlord, the Web3 gaming and media world, said in a thread tweet on Wednesday that holders of its lizard-themed Creepz NFT project can connect their Web3 wallet to Spotify to access the project’s community-curated “Invasion” track. The platform also stated in its tweet that the beta version of this new update is only available to Android users in the United Kingdom, the United States, Germany, New Zealand, and Australia.

KINGSHIP, a Universal Music Group NFT band, also tweeted updates for token holders, describing how the band seized this opportunity to construct a token-gated playlist for NFT holders. Queen, Snoop Dogg, Missy Eliott, and Led Zeppelin appear on this playlist.

While these announcements and updates about the beta version of Spotify’s token-enabled playlists were shared by the projects this music giant is collaborating with in the beginning, Spotify itself did not provide many details about the updates it will introduce with this feature in the future. 

Music Industry and NFTs

In the past, the global streaming platform that serves over 489 million users dabbled with NFT integration. It wasn’t until May of 2022 that a few artists like Steve Aoki and The Wombats were allowed to promote NFTs on their profiles on Spotify. Meanwhile, several Web3 music services have emerged, intending to make music consumption more distributed. Royal and anotherblock let composers offer music royalties as fractionalized NFTs; Audius is a cryptocurrency-linked streaming service that pays consumers with AUDIO tokens for interacting with its app.

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