Several NFT platforms are able to provide exclusive playlists that only token holders are able to access thanks to a new feature that streaming service Spotify is currently testing. Members of the Fluf, Moonbirds, Kingship, and Overlord NFT communities can use the tool, which supports the MetaMask, Trust Wallet, Rainbow, Ledger Live, and Zerion wallets. Only several regions currently offer this feature exclusively to Android users. However, it’s anticipated to be accessible everywhere shortly.
Numerous decentralized music streaming services already operate, such as the streaming service Audius, which pays members with its own tokens for using the platform. According to the Overlord 3 web site, Creepz NFT Kingship, the project’s owner, put together a playlist titled “Invasion” that includes many viral artists such as Snoop Dogg, Queen, etc.
Another Universal Music Group-owned NFT platform made its own playlist for the Spotify feature. It is intended that playlist will be updated frequently and that the songs will be more closely related to the NFT collections of the participating platforms.
However, it seems like the general sense of this feature is missing. Other than justifying the purchase for NFT holders, there is no distinct reason for this feature to exist. Exclusive playlist may be suitable as a benefit of some community’s memebership but definitely go against the initial purpose of NFTs, which, as I recall, are more art-related. And this feature is for sure not going to lure people into buying more NFTs. I won’t be surprised if it turns out that Spotify weren’t the ones initiating the idea and just accepting a paycheck from those web3 NFT companies, as there are no visible reasons for Spotify to doing this unless they are launching one of their own.
Finally, it’s worth mentioning that NFT integration has previously been tested by Spotify. Some artists, including Steve Aoki and The Wombats, were allowed to advertise their NFT ventures on own artist cards launching in May 2022.