Spotify Is Expanding Its Web3 Efforts, Testing Wallet Integration

Music streaming platform Spotify broadens its Web3 initiatives by experimenting with token-enabled playlists in different major markets.

On February 22, the Web3 gaming ecosystem Overlord announced a partnership with Spotify. Holders of Creepz non-fungible tokens (NFTs) on Spotify may now access the token-enabled community-curated playlist from Overlord through their Web3 wallets. The playlists can only be unlocked by Android users in the United States, United Kingdom, Germany, Australia, and New Zealand.

The Fluf, Moonbirds, and Kingship communities are also taking part in the three-month experiment. While Fluf and Moonbirds did not reveal any specifics about their collaboration with the streaming service, Kingship acknowledged its involvement in a pilot on Twitter. Users must have a Kingship Key Card NFT to access the tracklist, which includes tunes by Queen, Missy Eliott, Snoop Dogg, and Led Zeppelin.

Web3 music token sales increased as a result of the news. The native token of Viberate (VIB) increased by 33%. Some coins, including Rhythm (RHYTHM) and Audius (AUDIO), gained 4% and 18%, respectively, as per Coin Market Cap data.

Spotify started experimenting with NFT galleries on musician profiles in May 2022. Although there was no direct purchase option, consumers may preview the artists' NFTs and then be directed to the OpenSea site to complete their purchases.