A non-fungible token (NFT) gating function is being implemented by Web3 music platform Audius to enable musicians to deliver exclusive content to NFT holders. This comes in the wake of recent reports that the streaming giant Spotify is experimenting with token-gated playlists.
By releasing their own NFTs, artists on Audius can “gate” their content so that only those who own the relevant collection of tokens can access it. To verify their NFT ownership and gain access to B-sides, unreleased tracks, and other unique forms of music, listeners can link their wallets to Audius.
Forrest Browning, chief product officer and co-founder of Audius, told CoinDesk that allowing deeper connections and deeper interactions between fans and the artists directly has been a major focus of the company from the start. In the future, there will be many more methods to show an artist that you are a superfan, but buying one of their NFTs feels like a pretty strong signal right now.
Audius also seeks to serve artists who participate actively in the NFT community but may not have their own collections. An artist may gate their material using another NFT if they are a holder or have an affinity for that NFT project, such as the well-known Bored Ape Yacht Club or CryptoPunks collections.
For the past year, Audius has been putting effort into integrating features that would increase fan involvement. The startup upgraded its continuing cooperation with TikTok last month, enabling Audius users to embed their favourite music from the platform onto the social networking app. The firm launched its tipping feature in July, enabling users to “tip” their preferred musicians using the platform’s native AUDIO currency.