Overlord Founder: Spotify’s Token Playlists Valuable for NFTs

Published on: 24.02.2023

Music streaming giant Spotify has announced its partnership with blockchain-based company Overlord for its token-gated playlist pilot program. Overlord will be joining the project alongside Creepz, a platform for NFT holders.

Spotify, a massive music streaming company, has declared its partnership with Overlord, a blockchain-based firm, for its program that experiments with token-gated playlists.

Indeed, the aim of this move is to establish a new method for creators to generate revenue. Token-gated playlists enable artists and creators to receive tokens as users listen to their music. By using blockchain technology to track and verify plays, it becomes possible to compensate the appropriate individuals.

Overlord is a blockchain-based platform that specializes in the non-fungible token (NFT) art and collectibles. Excited to join Spotify’s pilot program, the company sees it as an excellent opportunity to showcase the benefits of tokenization.

According to the founder of Overlord, the partnership with Spotify is a “powerful” boost to NFT projects, as it creates a new way for artists to monetize their work. The founder added that tokenized playlists on Spotify provide a “game-changing” advantage to NFT ventures.

However, Spotify follows Audius and Soundcloud in using blockchain to track and monetize music streams. Therefore, many believe that incorporating blockchain technology into the music industry is essential for improving transparency and ensuring that artists and creators receive fair compensation for their work.

In conclusion, the partnership between Spotify and Overlord is a significant step forward for the NFT and blockchain industries. The use of token-gated playlists provides a new way for creators to earn revenue, while the integration of blockchain technology helps to ensure transparency and fairness in the music industry. With more major players in the music industry adopting blockchain-based solutions, we can expect to see continued growth and innovation in this space.