Spotify Partners with Overlord to Test Token-Enabled Playlists

Spotify Partners with Overlord to Test Token-Enabled Playlists

NFT holders can now listen to special playlists on Spotify.

Spotify, a proprietary Swedish audio streaming and media services provider, reportedly started working on token-enabled playlists.

The news was revealed by the Web3 gaming ecosystem, Overlord. In its Twitter thread, the company stated that Spotify chose it as one of “the partners in a new pilot.”

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Spotify’s official Twitter page replied to Overload's tweet stating that the company is "thrilled" to “explore” this new feature with Overlord.

According to Overlord, the community-curated playlists will be available to Creepz non-fungible token (NFT) holders.

However, the special playlists are also accessible to Moonbird, Fluf, and KINGSHIP community members, who can access token-enabled playlists using their Web3 wallets on Spotify.

KINGSHIP has also celebrated the news on Twitter, noting that it is a “special moment” for the Web3 ecosystem. In the announcement, KINGSHIP revealed that the playlist will be available to “KINGSHIP Key Card (NFT) holders.”

We, KINGSHIP strive to ALWAYS be at the forefront of technology and music. Now, we're taking this commitment a step further by launching a brand new token-enabled playlist with Spotify!

In its announcement, the supergroup revealed that its playlist consists of songs from artists like Queen, Missy Eliott, Snoop Dogg, and Led Zeppelin.

The three-month pilot will be available only to Android users in the United Kingdom, Germany, the United States, New Zealand, and Australia.

The news about Spotify’s token-enabled pilot affected music coin prices. Viberate, a music-related data analysis platform native token VIB, surged by 46% in the past seven days. Currently, VIB retails for $0.1407, recording a 1.35% price increase in the last 24 hours.

On the other hand, the price of the music token Audius (AUDIO) increased by over 25% and is worth around $0.3994.

It is not the first time Spotify indulged in NFT-related initiatives. In May 2022, Spotify started experimenting with the Steve Aoki and The Wombats profiles and testing various NFT-enabled functions.

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree