Spotify’s integration with NFT projects including Moonbirds has helped its shares rise more than 80 percent since the start of the year.
The Moonbirds (MOONBIRD), an Ethereum ERC-721 NFT token with a total supply of 10,000 units, has announced a strategic partnership with Spotify Technology SA (NYSE:SPOT) to enable NFT holders to unlock certain musical creations on the online platform. Dubbed Sounds of a Digital Renaissance on the Spotify platform, Moonbirds owners in the US, UK and Australia can access the Moonbirds playlist, according to the announcement.
However, only Android Moonbirds users will have access to the beta program, according to the announcement.
Reportedly, Moonbirds developers see the partnership with Spotify as an opportunity to merge Web2 into Web3 through the NFT industry. As a result, NFT holders have the opportunity to unlock more utility while still holding their assets on the blockchain.
Most notably, Voices of the Digital Renaissance is curated by Twitter user @dannylee, with the help of SongBirds, @TheSongBirds.
“This playlist will fuel the creative minds of our community and our artists, with multi-genre offerings from artists like Tammy Impala, Diplo, and more,” Moonbirds male.
The Moonbirds team promises to continue building more benefits for NFT holders to enable value creation. Moreover, there are thousands of NFT projects in the entire blockchain industry all competing for the same markets.
Moonbirds Economics
According to market data provided by CoinGecko, the MOONBIRD NFTs price is 2.08000 ETH, worth approximately $3,673.92 on Friday, May 12th. In addition, the Moonbirds NFT project had a market cap of approximately 20,800 ETH, worth approximately $36,739,241 USD, per day. The trading volume is around 80.47 ETH.
With around 10,000 unique digital assets, Moonbirds has reported a total of 6,449 owners. Currently, MOONBIRD NFTs are available for trading on OpenSea and LooksRare.
However, OpenSea had the majority of Moonbirds NFT volume in the last 24 hours.
Spotify Taps is working on NFT to expand its market
Earlier this year, the KINGSHIP NFT project, a board apes subset signed with Universal Music Group (UMG), announced a strategic partnership with Spotify in a pilot program to help unlock certain playlists.
“All you need is a KINGSHIP NFT key card to unlock this playlist on Spotify. For now, this beta version is only available for Android users in the US, UK, Germany, Australia, and New Zealand,” KINGSHIP male.
Likewise, the partnership with Kingship has only been made available to Android users since Apple introduced some internal policies restricting the functionality of NFTs.
Spotify’s integration with NFT projects, including Moonbirds, has helped the stock market up more than 80% year-to-date. According to the latest stock market data, Spotify stock is trading at about $142.68, down 2.98 percent today.
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