Include punctuation and upper and lower cases. Racism, sexism and other forms of discrimination will not be tolerated. Avoid profanity, slander or personal attacks directed at an author or another user. Even negative opinions can be framed positively and diplomatically. Only post material that’s relevant to the topic being discussed.īe respectful. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. Meanwhile, Spotify's earnings have been continuously increasing over time, indicating that NFT-based music platforms have enough potential to disrupt the music industry. The company is aware of the emergence of NFTs since it included them in its Spotify Wrapped 2021 compilation for users published in the early days of December 2021. Spotify has been giving much attention to the cryptocurrency business recently.
SPOT is now trading at around $229 at the time of writing. In addition, according to Trading View statistics, SPOT has been falling in 2021, starting at around $300 and decreasing as low as $204 in August.
According to the firm, Spotify's stock is expected to fall 33% in 2022. Traditional streaming platforms like Spotify, on the other hand, have a "bleak" future, according to Saxo Bank. Related post: Mick Jagger Attempts to Raise Money for Independent Music Venues Via NFTs The Audius platform is a decentralized music-sharing and streaming system based on blockchain technology that aims to eliminate intermediaries in the music industry and allow fans and creators to communicate directly. According to the analyst, NFT-based music streaming projects, such as Audius, a blockchain music platform funded by Katy Perry, The Chainsmokers, and Jason Derulo, are expected to launch in 2022. Furthermore, music composers would benefit from NFT-based streaming services, according to one of Saxo Bank's "Outrageous Predictions 2022: Revolution," because they allow them to distribute music directly to listeners without paying a charge to centralized intermediaries.Īccording to Eberhardt, a seasoned cryptocurrency analyst, the use case for NFTs for content generators in the music industry could prove particularly compelling in the next step for the technology, as musicians feel unfairly treated by current streaming platforms like Spotify and Apple (NASDAQ: AAPL) Music's revenue-sharing models. Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position CloseĪccording to Saxo Bank, as popular music streaming services like Spotify (NYSE: SPOT) slash musicians' earnings, new technologies like nonfungible tokens (NFT) are expected to help artists reclaim their due share.
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