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Spotify will also have NFTs: this is why

Non-fungible tokens are everywhere, even Spotify will have NFTs too. It seems that this music streaming company is preparing everything to add blockchain technology to its transmission services, in order to promote this new form of digital property, with a view to increasing the income of the artists themselves and generating assets of this type of technology.

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The rumours about NFTs on Spotify come just days after Mark Zuckerberg confirmed the addition of this blockchain technology to Instagram. The suspicions began with the beginning of the recruitment of people to work on “Web3” projects, which is the term used to refer to networks powered by blockchain.

The Blockchain inside Spotify

Although for now the incorporation of NFTs in Spotify is in the exploratory stage, the truth is that the company has already opened the doors to this type of talent within its ranks; for example, this new hiring ad from Web3 notes that they are looking for “an engineer on their experimental growth team.”

Another profile starting to find a place within Spotify is that of a manager in its “Innovation and Market Intelligence” group who has industry experience in content, creator, media, web3 and emerging technology to help define Spotify Moonshots.

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This open secret could be supported in a statement by Daniel Ek himself, CEO of Spotify. The executive pointed out in a platform podcast in 2019 that cryptocurrencies and the blockchain “could allow users of a service like Spotify to be able to pay artists directly” in special conditions such as geographical differences or in locations where traditional banking does not exist. easy access.

It is possible that in a few months there will be more information about what Spotify is preparing, but clearly, the objective is to allow users and artists to have an additional way of sharing within their own platform.

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George Philip
George Philip
George is a tech-savvy professional and enthusiast. He writes content that gives you the insights and information you need to understand how tech is impacting your life, workplace, and world. You may contact him via his email - [email protected]


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