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This Hot Topic in Tech Is On Spotify’s Radar

by WOOWinvest
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This Hot Topic in Tech Is On Spotify's Radar

The vision of a new, freer internet powered by blockchain transactions is converging around the word “Web3”.

Jack Dorsey, CEO of digital payments provider Block (SQ) – Get Block Inc Class A Report recently tweeted that Web3 is a new word, it can be anything you want.

Dorsey sounds vague, but he’s not.

Web3 is still largely conceptual in mainstream consciousness and is vaguely touted as a new vision for the internet, not dominated by the likes of meta-platforms (FB) – Get Meta Platforms Inc. Class A ReportGoogle (GOOGL) – Get Alphabet Inc. Class A Report or Amazon (AMZN) – Get Amazon.com, Inc. Reports Among other things, more democratic in nature.

“At its most basic level, Web3 refers to a blockchain-based decentralized online ecosystem,” Wired said.

The term Web3, coined by Ethereum co-founder Gavin Wood in 2014, is seen by some as a pipe dream of saving democracy through the use of blockchain technology.

At the other extreme are naysayers or right-clickers (people who don’t like concepts like Web3 and NFTs, who see Web3 as a scam or shady scheme to lure you in exchange for money.

Last year, Dorsey also made a vague critique of Web3’s ownership.

Make money by making music on Web3

While the debate is hot, the concept has begun to change the fortunes of the music industry, expanding revenue options to help artists make more money, rather than ultimately being duped by record labels and streaming platforms.

“income [artists] Their revenue from selling songs and music as non-fungible tokens or NFTs is much larger,” Bloomberg reported, compared to their revenue on music streaming services like Spotify (SPOT) – Get Spotify Technical SA Report or Apple Music.

The report says that sometimes $60,000 can be earned by selling five singles and a music video, and $300 a month by streaming more than 4 million streams.

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It’s no surprise that Spotify wants to get into this space, too. The online music service is looking for people with Web3 expertise for two positions.

A week ago, Spotify posted two jobs, both of which required Web3 competencies as part of the hiring criteria.

The first is a full-time job: senior manager of innovation and market intelligence at LinkedIn, joining Spotify’s team of “futurists providing leadership and strategic oversight in long-term strategy, industry and competitive analysis, and business intelligence.”

Candidates for this New York position should basically have Web3 expertise as well as other qualifications.

The company’s listing criteria are: “Familiarity with emerging trends, technologies, platforms and ecosystems, especially those related to content, creators, media, web3 and emerging technology industries.”

Spotify says it’s looking for a “smart” person who can move fluidly between the left and right hemispheres to balance user and market research, creative thinking, technical familiarity, product design and analytical rigor (aka “unicorn”). beast”).

Spotify has also hired a senior backend engineer to join its small full-stack team, which is responsible for driving growth through new technologies such as Web3.

The job description adds: “You will…facilitate collaboration with product, insight and design to uncover the next growth opportunities leveraging new technologies such as Web3.”

Spotify’s job listing comes as Metaverse-obsessed Mark Zuckerberg recently announced that NFTs are coming to Meta’s photo and video-sharing app Instagram.

Investment firm Wedbush told investors last November that Metaverse would allow users to create digital assets such as NFTs with additional financial incentives.

However, it’s important to note that the Metaverse and NFT craze is slowing, with both terms seeing a sharp drop in search traffic, at least according to Google Trends.

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