Spotify listeners can use their NFT wallets to access the token-enabled playlists from Overlord, Fluf, Mooonbirds, and Kingship.
Spotify, a music streaming platform, broadens its Web3 operations by testing with token-enabled playlists in various major markets.
On February 22, the Web3 gaming ecosystem Overlord announced the beginning of its partnership with Spotify. Those who own Creepz nonfungible tokens (NFTs) on Spotify can now access the token-enabled community-curated playlist from Overlord through their Web3 wallets.
https://twitter.com/Overlord_xyz/status/1628485145706614792?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1628485145706614792%7Ctwgr%5Ef7008d3749fd275f6efa02dac7c56ec39947f721%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.coindesk.com%2Fweb3%2F2023%2F02%2F23%2Fspotify-is-testing-token-enabled-music-playlists%2F
The playlists can currently only be unlocked by Android users in the United States, United Kingdom, Germany, Australia, and New Zealand.
Fluf, Moonbirds, and Kingship metaverse communities are other participants in the three-month pilot.
While Fluf and Moonbirds kept their partnership with the streaming service private, Kingship publicly announced its participation in a pilot. The user needs a Kingship Key Card NFT to open the tracklist, which features hits by Led Zeppelin, Queen, Missy Eliott, and Snoop Dogg.
We, KINGSHIP strive to ALWAYS be at the forefront of technology and music.
Now, we're taking this commitment a step further by launching a brand new token-enabled playlist with @Spotify!
This is a special curated playlist exclusively for KINGSHIP Key Card (NFT) holders. 🧵 pic.twitter.com/5ftjk8OgC6
— KINGSHIP (@therealkingship) February 22, 2023
The announcement triggered a spike in Web3 music tokens. For instance, VIB, the native token of Viberate, rose by 33%. Other tokens also gained by 4% and 2.5%, including Audius’ AUDIO and Rhythm’s RHYTHM.
Spotify started testing the NFT galleries on musician profiles back in May 2022. Although there was no direct purchase option, consumers could preview the artists’ NFTs and then be taken to the OpenSea page to make their purchases.
One of the markets where cryptocurrency usage is booming is the music industry. In order to enable Bitcoin micropayments for podcast listeners, value-for-value podcasting platform Fountain established a partnership with ZEBEDEE in late January. The 2015 hit song “Bitch Better Have My Money” by Rhianna’s royalties was made available in February as one of 300 NFTs.