Music streaming platform Spotify expands its Web3 effortsย by testing token-enabled playlists in several key markets.ย
Overlord, a Web3 gaming ecosystem, reportedย on Feb. 22 the start of its partnership with Spotify. The token-enabled community-curated playlist from Overlord may now be accessed via Web3 wallets of those who hold the Creepz nonfungible tokens (NFTs) on Spotify. For now, only Android users from the United States, United Kingdom, Germany, Australia and New Zealand can unlock the playlists.ย
Other participants in the three-month pilot are Fluf, Moonbirds and Kingship metaverse communities. While Fluf and Moonbirds didnโt share any details on their partnership with the streaming service publicly, Kingship confirmed its participation in a pilot on Twitter. To unlockย the tracklist, including the hits by Queen, Missy Eliott, Snoop Dogg and Led Zeppelin, the user should possess a Kingship Key Card NFT.
Related: Music NFTs are helping independent creators monetize and build a fanbase
The announcement triggered a surge of Web3 music tokens. For example, VIB, Viberateโs native token, was up 33%. Other tokens, such as Audiusโ AUDIO and Rhythmโs RHYTHM, also rose 4% and 2.5%, respectively.
Back in May 2022, Spotify began testing the NFT galleries on musiciansโ profiles. Although without an option of direct purchase, it let the users preview the artistsโ NFTs and be redirected to the OpenSea page where they could purchase the items.
The music market remains one of the blooming areas of crypto adoption. In late January, value-for-value podcasting platform Fountain announced a partnership with ZEBEDEE to enable Bitcoin micropayments for podcast listeners. In February, royalty rights from Rhiannaโs hit 2015 song, โBitch Better Have My Money,โ has been offered as part of a collection of 300 NFTs.
