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Spotify plans to integrate NFTs, other Web3 features

Spotify plans to integrate NFTs, other Web3 features

As per a job opening posted by the music streaming platform, Spotify plans on entering the Web3 space soon.

Spotify plans to integrate NFTs, other Web3 features Spotify plans to integrate NFTs, other Web3 features

As per a latest job opening posted by Spotify, the platform is hiring a team to integrate various features of Web3 like NFTs on its platform.

Spotify is a media and music streaming service founded in Sweden. As of December 2021, it had over 406 million monthly active users, including 180 million premium clients, making it one of the largest music streaming platforms.

NFTs or non-fungible tokens are non-transferable units of data that is created and stored on a blockchain. NFTs are also sold and traded on the blockchain, which is a type of digital ledger. NFT data units of various types can be associated with digital assets such as images, movies, and audio. 

The music streaming platform would not be the first to integrate features of Web3 like NFTs on its platform. Microblogging website, Twitter, launched a feature to showcase NFT display pictures in January this year. Moreover, Mark Zuckerberg, CEO of Meta announced last week that Instagram, a photo and video sharing social media site, is also planning on integrating NFTs on its platform.

Twitter had introduced NFTs in the form of images on its platform. Instagram would also most likely do the same and integrate NFTs as images on its platform. Since Spotify is a music streaming platform, it is most likely that Spotify might integrate NFTs in audio format on its site.

This would not be the first time NFTs and music have come together. Justin Blau, Kings of Leon, Don Diablo, Jacques Greene, etc have all minted their music in the form of NFTs to ride the Web3 bandwagon.

Whatever way Spotify chooses to integrate NFTs on its platform, it would be interesting to note how the users react to this new feature. Twitter had a rather successful attempt at integrating NFTs on its platform. This could be accounted by the strong NFT community on the platform. Despite decent adoption, some people did criticise Twitter's move to integrate NFTs on its platform. Elon Musk was one of the most vocal critics of this decision.