Spotify is entering the metaverse. The streaming giant is hiring a senior backend engineer, with one of its core responsibilities “uncovering” the next growth opportunities related to emerging technologies in Web 3.0.
The company listed the job posting on LinkedIn two weeks ago and has so far received 48 applicants. The line in the job description related to Web 3.0 also describes facilitating collaboration with the verticals of product, insights, and design.
The new hire will work on the “Freemium” Research and Development team, which is “responsible for driving growth” in areas of new technologies. The goal is to engage younger audiences, which may be more familiar with Web 3.0 technologies than older generations.
Web 3.0 is a catch-all term to refer to several technologies still in their early stages. The technologies include blockchain, virtual reality, and augmented reality. The hottest buzzwords in that sphere of the technology industry are metaverse, non-fungible tokens (NFTs), and cryptocurrency.
More Companies Hiring for the Metaverse & NFT Integrations
Spotify is just the latest in a string of companies hiring for the metaverse. The shortlist includes Nike and Disney, both interested in staking claims in the metaverse. Other companies have explored integrating NFTs, one-of-a-kind digital assets stored on the blockchain, into their products.
YouTube, for instance, recently came out and said it is working to integrate NFTs into its suite of monetization options for creators. OnlyFans and Twitter have unveiled NFT profile picture verification services. Meta is thinking about building an NFT marketplace for Facebook and Instagram users, and Reddit is also thinking about integrating NFTs.
Other companies are focusing more on the metaverse as a whole, and it’s not just the young, hip technology companies doing so. J.P. Morgan Chase, who once criticized cryptocurrency, is setting up a bank inside the metaverse. And the New York Stock Exchange has registered trademarks related to the metaverse and a possible NFT marketplace.
There’s little doubt that more companies are piling into Web 3.0, if for no other reason than they don’t want to be left behind. Technology has had a way of rendering companies, even long-standing ones, obsolete, and no one has forgotten the tell-tale of Blockbuster declining in prominence.