• Spotify is testing a new service called „token-enabled playlists“ that allows NFT holders to access curated music.
• It is currently in the pilot phase, available to Android users from the U.S., UK, Germany, Australia, and New Zealand.
• The testing period consists of three months, during which the curated playlists will be actively updated and can only be accessed by community members with a unique link.
Spotify Tests Token-Enabled Playlists
Spotify has announced a pilot project for token-enabled playlists that can be used by Non Fungible Token (NFT) holders in order to access curated music. This service is available exclusively to Android users from United States, United Kingdom, Germany, Australia and New Zealand.
Partnership with Web3 Gaming Ecosystem Overlord
The new service was designed in partnership with the Web3 gaming ecosystem Overlord and involves a token-enabled community-curated playlist that can be accessed via Web3 wallets of those who hold Creepz NFTS on Spotify. Other communities like Fluf, Moonbirds and Kingship are also included in this project as well. Universal Music Group’s NFT band Kingship revealed creating their own token-gated playlist for NFT holders featuring Queen, Missy Eliott, Snoop Dogg and Led Zeppelin.
Testing Period
The testing period of this project consists of three months during which the curated playlists will be actively updated and it can only be accessed by community members with the help of a unique link provided by Spotify.
User Growth Despite Losses
At the end of 2022 Spotify ended with better than expected user growth despite widening quarterly losses caused due to pandemic related costs such as free trial subscriptions it offered last year to boost usage while lockdown restrictions were in place across many countries around the world.
Conclusion
In conclusion we can say that Spotify’s new token enabled playlist feature is an innovative concept which could revolutionize how people listen to music online if it gets implemented permanently after successful completion of its trial period