- The feature, called “token-enabled playlists,” allows non-fungible token (NFT) holders to connect their blockchain wallets and listen to curated music playlists
- It is only available to community members within the Fluf, Moonbirds, Kingship, and Overlord communities, via a unique link
- The pilot is currently only available for Android users in the U.S., U.K., Germany, Australia, and New Zealand
Utility NFTs in the music industry
Spotify, one of the largest music streaming services in the world, is experimenting with a new feature that could change the way users access and enjoy music. The feature, called “token-enabled playlists,” allows non-fungible token (NFT) holders to connect their blockchain wallets and listen to curated music playlists. The practice known as token-gating will allow greater utility to NFTs and other tokens.
NFTs are unique digital assets that are stored on a blockchain, making them one-of-a-kind and impossible to replicate. NFTs have a variety of purposes, including art, collectables, and now, it seems music.
Spotify token-enabled Playlists
The new feature is currently being tested for a three-month period. During this period it is only available to community members within the Fluf, Moonbirds, Kingship, and Overlord communities, via a unique link. These communities are made up of people who have purchased NFTs related to these projects.
Overlord x @Spotify 🎶
We’ve been selected as one of Spotify’s partners in a new pilot.
🦎 Exclusive pilot of their token-enabled playlists
🎧 Launching with a holder-curated playlist
Details below ⤵️ pic.twitter.com/MDTjPRCXS5
— Overlord (@Overlord_xyz) February 22, 2023
Overlord, a Web3 gaming and media universe, has announced that its Creepz NFT project holders can connect their Web3 wallets on Spotify to access the project’s community-curated “Invasion” playlist. Other communities are also working on their own curated playlists. These include Kingship, which has created a token-gated playlist featuring artists such as Queen, Missy Elliott, Snoop Dogg, and Led Zeppelin.
To access these playlists, NFT holders must connect their wallets to Spotify. According to a screenshot shared by the lead developer for NFT liquidity protocol NFTX Apoorv Lathey, NFT holders can connect to their Metamask, Trust Wallet, Rainbow, Ledger Live or Zerion wallets.
The pilot is currently only available for Android users in the U.S., U.K., Germany, Australia, and New Zealand. Spotify has not yet announced plans to expand the feature to other platforms or countries. However, Spotify routinely conducts tests to improve user experience.
In May 2022, Spotify allowed a select group of artists, including Steve Aoki and The Wombats, to promote NFTs on their profiles. However, this new feature could be a game-changer for both NFTs and the music industry as a whole.
Spotify x blockchain
Spotify has an existing relationship with blockchain technology. In 2017 Spotify purchased blockchain technology startup Mediachain. The startup created a blockchain-based solution for tracking music across the internet. This would help with royalty and intellectual property tracking. The company has once again shown faith in blockchain technology.
We’ve spoken about token gating before and how it may well be the missing key to the NFT market. While some have criticized the use of NFTs for music, arguing that it is a gimmick that doesn’t add anything to the listening experience, others see it as a way to connect with fans and create new revenue streams for artists. It remains to be seen whether token-enabled playlists will become a permanent feature of Spotify or whether they will be consigned to the scrap heap of failed experiments. However, it is clear that NFTs are here to stay. They could have a significant impact on the music industry in the years to come.
It’s undeniable that token-gating is the way forward when it comes to NFTs. We can draw a parallel with the country club access afforded to residents of affluent estates. However, as history has shown us time and again, finding the right use case is the key to success.