Spotify to add NFTs and Web3.0 support

The company believes that the new technologies will be able to increase revenue from music sales

18.03.2022 - 11:20

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What’s new? Spotify, a Swedish music service, will add support for NFTs and Web3 technologies. The streaming platform has opened two new vacancies in these areas: a senior backend engineer and an innovation manager. The company is looking for people with experience in “content, creator, media, Web 3.0, and emerging technology industries.” In an interview with Financial Times, Spotify Chief Executive Daniel Ek stated that the innovations will help boost revenue from music sales.

Financial Times’s material

What other companies integrate blockchain technologies? Meta CEO Mark Zuckerberg previously announced that Instagram will have the ability to create NFT tokens. The exact date of implementation of the new functionality remains unknown.

The social network Twitter has already added the ability to set NFT as a profile picture. Tesla and SpaceX CEO Elon Musk criticized the integration of NFT into Twitter. In his opinion, the developers of the social network should deal with more important issues, such as creating tools to combat spambots and scammers.

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