Is Spotify experimenting with NFT previews for artists?

Music streaming platform Spotify is experimenting with a way for artists to display their NFT (non-fungible tokens) collections. The platform has reportedly rolled out the test for some users on Android in the U.S. and currently includes NFT previews for artists like Steve Aoki and The Wombats.

What is a music NFT?

What are Music NFTs? A music NFT, which stands for non-fungible token, is a unique digital asset that lives on the blockchain, and can be bought and sold. Where a regular NFT is typically just a visual asset, a music NFT has a musical component as well as a visual one.

Who is a NFT & why is it so popular?

In addition to the Kings of Leon and Steve Aoki, Snoop Dogg, Eminem, and Nas have also stepped into the world of NFTs to great success. Even artists without a massive pre-existing following are benefiting from music NFTs.

Are music NFTS a flaw?

Benji Rogers, who instructs the Music Business Trends and Strategies course at Berklee Online and is co-founder of the digital strategy consultancy Lark 42, sees this investor-investee dynamic between artists and fans as a flaw of music NFTs. “The future of the music industry is in artist-to-fan connection,” says Rogers.