![]() According to the Financial Times, the company is drawing up plans to add blockchain technology and non-fungible tokens to its streaming service, fueling excitement in the crypto and music industries about the potential of NFTs to boost artists. Spotify was a founding member of Facebook’s ill-fated cryptocurrency project, Diem, and these web3 positions would not be the company’s first foray into the cryptocurrency space in the future. Spotify may be the latest service to adopt NFTs. Spotify also has a separate job posting for a manager in its foreboding “Innovation and Market Intelligence” group, which is tasked with forecasting the future.Ī spokeswoman for Spotify declined to comment on the company’s plans for NFT. Spotify is drawing up plans to add blockchain technology and non-fungible tokens to its streaming service, fuelling excitement in the crypto and music industries about the potential of NFTs to boost artists’ earnings. ![]() The music streaming service is looking for a manager with previous experience in the “content creator, media, web3, and emerging technology industries” to “assist in the definition of Spotify Moonshots,” a term used to describe ambitious new projects. Spotify draws up plans to join NFT digital collectibles craze. ![]() NFTs make use of blockchain technology in order to verify ownership of digital assets.Īccording to market tracker, visual artworks, video games, and collectibles accounted for the vast majority of the $17.7 billion in nonfungible trades that took place last year in the United States.įor early-stage efforts tied to “Web3,” which is a technical term for a blockchain-powered network that some crypto enthusiasts believe will wrest control of the internet away from the Big Tech platforms that currently dominate it, Spotify is actively hiring.Īs a means of fending off cryptocurrency start-ups, Spotify has become the latest tech titan to enter the NFT industry. Mark Zuckerberg confirmed NFT Integration in Instagram which was reported by cryptonks.Īfter Instagram, Spotify is developing plans to integrate blockchain technology and non-fungible tokens into its streaming service, igniting interest in the crypto and music industries due to their potential to increase artist earnings. ![]()
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