There have been reports that the music streaming behemoth is working with artists on NFT galleries.
Spotify is exploring the addition of non-fungible token galleries on the profiles of various musicians, indicating that the music industry may soon follow suit. The platform hopes to improve the user experience with this choice.
The NFT connection was tested last week in the United States, and it was made accessible to Android users who could browse samples of specific artists’ NFT collections through the app and then be led to the OpenSea gallery if they wanted to purchase the work.
The tests were conducted to improve artist and fan experiences, with the firm stating that some of the arts pave the way for a bigger experience while others serve as a valuable learning tool.
While the streaming giant has yet to issue an official comment, sources claim that it will not participate in the profit-sharing split during the trial period.
Many musicians have indicated an interest in developing their non-fungible tokens, and Spotify’s foray into this territory might allow them to establish an entirely new platform for sharing their work.