Music-streaming company Spotify (NYSE:SPOT) is planning to incorporate blockchain technology and NFTs into its list of services, according to a number of job listings posted by the company. The nascent technology could power the app and increase profits for artists.
Spotify is hiring specialists to work on its projects related to Web 3.0 development. The company is looking for an engineer for the “experimental growth” team to “uncover the next growth opportunity leveraging new technologies, like Web3.” The next position is for an “Innovation and Market Intelligence” manager. The streaming provider is looking for experienced candidates in content creation, media, Web 3.0, and emerging tech industries to help develop ‘Spotify Moonshots’ – a term defined by the company for carrying out ambitious, new projects.
Sales of NFTs have been slowing down this year in comparison to 2021; it’s possible that music is the new medium through which to raise interest in NFT sales again. Some projects include the sale of digital albums, exclusive benefits at live music events, merchandise, and backstage passes.
Dozens of musicians (Snoop Dogg, Steve Aoki, deadmau5, Eminem, and many more) have already entered the NFT market, with some even holding concerts in the metaverse.
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