spotify experiments with musicion nft

Spotify, a well-known audio streaming platform that dipped its toes into the web3 space earlier this month, recently announced plans to launch NFTs on its platform and invited a group of artists to conduct a pilot.

The pilot will be open to select US users who will be able to access NFT collections from artists such as Steve Aoki and The Wombats.

However, Spotify will not provide a direct sales channel for NFTs.

Users still have to buy through external marketplace platforms.

BTC Dominance Soars to Yearly High Spotify to Launch NFTs

The wave of recovery that started last Friday didn’t last long.

The main cryptocurrency market fell again on Monday.

Following the brutal collapse of the Terra ecosystem, BTC experienced its first seven-week losing streak since launch.

However, as of this writing, the main cryptocurrency market seems intent on another wave of recovery.

After Monday’s drop, BTC, the current largest cryptocurrency by market cap, rose slightly, successfully defending the psychological support level of $30,000, and even broke a bearish trend line with an upper limit near $29,600 on the hourly chart.

If BTC closes above the $30,500 resistance and the momentum continues, BTC could pick up the pace of its gains.

Conversely, if the aforementioned momentum loses momentum, BTC is likely to revisit previous support levels in the $29,000 area.

While the overall market rout last week saw BTC trade as low as $25,300, BTC’s dominance chart has just surged to a yearly high, suggesting that alternatives may be having a tougher time than BTC at this stage.

Still, alternative coins seem to be struggling to fight back.

At the time of writing, ETH has reclaimed the $2,000 mark after gaining 1.4% over the past 24 hours.

Most of the major non-mainstream coins also turned from losses to gains, with LTC leading the gains with a 5.2% gain in just a few hours.

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