Streaming and media services provider Spotify plans to launch into the blockchain technology and non-fungible tokens with recent job advertisements.
The firm has placed two job advertisements in search of developers to advance early-stage Web3 projects that enhance the decentralization of the internet.
The job post notes that the firm is searching for an engineer for its small and full-stack unit. The second posting is a managerial position in innovation and market intelligence.
The news follows an announcement by Facebook’s Mark Zuckerberg that Instagram was planning to add support for non-fungible tokens. Twitter and Reddit, rival social media platforms, have also ventured into the sector.
Nonfungible.com shows that most of the $17.7 billion worth of NFTs that changed hands last year comprised games, art pieces, and collectibles.
The NFT sector has gained momentum among musicians and celebrities with the rise of start-ups like Royal, which collect and sell the assets from the content developers.