Spotify Looks To Jump NFT Bandwagon After Failed Collaboration With Facebook

March 17, 2022 6:55 AM | 1 min read |

Spotify Technology SA SPOT looked to add blockchain technology and non-fungible tokens to its streaming service, the Financial Times reports.
Spotify hired people to work on early-stage projects related to “Web3,” a tech buzzword for a blockchain-powered network.
Also Read: $17B Worth NFTs Traded In 2021, More Players Could Join After Visa, Nike
Meta Platforms Inc FB Facebook founder Mark Zuckerberg recently confirmed that Instagram would soon start to support NFTs.
Other social media companies, including Twitter Inc TWTR and Reddit, are also working to build new features for displaying or trading NFTs.
Spotify was an early collaborator on Facebook’s ill-fated cryptocurrency project, Diem.
Price Action: SPOT shares traded lower by 1.18% at $132 premarket on the last check Thursday.

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