1. Streaming services can now integrate NFTs
Behind the scenes of many music streaming services around the world is technology powered by a company called Tuned Global. This week they announced a new deal with Revelator that will enable NFT sales, token-gated content and even royalties distributed via smart contracts.

DSPs that work with Tuned Global will be able to plug into these Web3 features. To be clear, we’re not talking about Spotify or Apple Music here. Clients include streaming services in Thailand, Japan, Africa and Europe, as well as some apps in the US that use music like Lululemon.

Still, it’s introducing blockchain tech through the back door of the legacy music industry and laying the foundations for potential wider adoption.

Our take? We’ve always been skeptical about the top-down integration of NFTs and blockchain so we don’t expect to see any immediate traction from this. We tend to believe that change will come from the grassroots and independent music scene before forcing a change at the streaming level.