The Web3 music platform Audius is implementing an NFT gating feature to enable artists to release exclusive content to NFT holders. The news follows Spotify’s announcement that it’s testing token-gated playlists — a move that created buzz in the NFT space.
Artists on Audius can now release their own NFTs to “gate” content so that only people who hold their tokens can access it. By linking crypto wallets to Audius, holders of the NFTs will be able to access unreleased tracks, B-sides, and other types of exclusive content.
And here’s an interesting twist. Artists who own NFTs and are active in the community but don’t have their own NFT collections can participate by giving gated access to holders of the collections they own or like. For example, an artist could open up their content to holders of blue chip NFT collections like CryptoPunks, World of Women, Bored Ape Yacht Club, etc.
Forrest Browning, the chief product officer and co-founder of Audius, said that the platform has always sought to enable deeper “connections and interactions between the fans and the artists directly.” The new feature will inspire creators to offer exclusive content and let supporters show they are super fans.
Over the past year, Audius has been working on tools to boost fan engagement. Last month it partnered with TikTok to let users integrate songs from Audius. And in July, it launched its tipping feature, which lets users tip artists with the platforms’ native $AUDIO token.
The Music Industry Continues to Embrace Web3
The latest feature from Audius is exciting for fans and artists on the popular Web3 music platform. But it’s certainly not the only news in Web3 related to music. At Rarity Sniper, we’ve covered several stories about music companies embracing and investing in Web3. Here are some of the headlines.
First, on February 15th, Napster announced it acquired NFT music marketplace Mint Songs, a company that helps artists establish their presence in Web3 through NFTs. The move comes as Napster, a company most known for sharing pirated music in the 2000’s, continues to make its comeback in Web3.
Next, Warner Music Group (WMG) recently collaborated with Gamefam for a new activation in the Roblox metaverse called Rhythm City. The activation will blend music and gaming in a 3D experience as part of WMG’s strategy to create new forms of engagement between musicians and fans in Web3.
Lastly, three months ago, Winamp digital music player added functionality for Ethereum and Polygon music NFTs. Winamp users can now play songs embedded in their Ethereum and Polygon NFTs.
Several companies and platforms are making their push into Web3 music, and it’s going to take some time for things to play out. But the launch of the new token-gated access tool from Audius shows the Web3 platform intends to be a top competitor in the space. We’ll be following up on any new developments in the story.