Spotify Launches NFT Gallery for Musicians
Spotify is testing a new feature that will allow musicians to promote their NFTs in their profiles.
The musician’s NFT gallery is currently only available for a small group of artists in the United States
Users who take part in the test will be able to preview NFTs through an artist’s profile.
Spotify is currently trying out a feature that allows artists to show off their non-fungible tokens (NFTs), according to Music Ally. The streaming platform has rolled out the NFT gallery test for some Android users in the United States.
A statement from the music company’s spokesperson to Music Ally reads:
‘Spotify is running a test in which it will help a small group of artists promote their existing third-party NFT offerings via their artist profiles.’
The company, however, clarified that while some of these tests pave way for broader experiences, others are not eventually implemented officially.
Currently, users have access to NFT previews for artists such as Steve Aoki and The Wombats. Once you click the artists’ profiles, you’ll be able to see their NFT gallery along with brief descriptions about them.
Spotify joins a long list of companies that have been looking to capitalize on interest in the growing community. It, however, seems like the company may be late to the party.
A report by The Wall Street Journal shows that NFT sales have crashed by 92% from September 2021 to this month. Sales which used to be 225,000 have reduced to 19,000, as of May 3rd.
The number of active NFT wallets has also dropped drastically from 119,000 in November to 14,000 last month.