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The digital world is undergoing a revolutionary change as major social media platforms shift focus from passive likes and hearts to more active user engagement through digital collections and bookmarks. .
with Spotify twitter Both platforms are leading the way by exploring the potential of blockchain technology and non-fungible tokens (NFTs) and incorporating digital collections into their services.
Spotify changes “Like” to “Collect”
Spotify is one of the world’s largest music streaming platforms, with over 356 million monthly active users.
To keep up with changing user behavior, Spotify is changing “Like” to “Collect” to encourage users to think of music tracks as digital goods that they can collect. Spotify believes that digital collections could become her main incentive mechanism for users in the future.
Spotify is also exploring the possibility of NFTs boosting artist earnings and avoiding potential competition from cryptocurrency startups. The company revealed plans to add blockchain technology and his NFTs to its streaming service in March.
Two job ads show the company is actively recruiting for early-stage projects related to its blockchain-powered network, Web3.
NFTs use blockchain technology to prove ownership of digital assets, and the majority of NFTs traded last year were visual arts, games and collectibles.
Many in the crypto industry believe music could be the next breakout application for NFTs, with artists and labels using their music to sell digital albums or unlock perks at gigs. I think.
Musicians such as Snoop Dogg and Steve Aoki became prominent NFT collectors, while Kings of Leon and Grimes sold NFTs of their music.
Twitter Expands into Finance with Partnership with eToro
Twitter is also apparently exploring ways to incorporate blockchain technology into its services. Recently, the company rolled out bookmarks to let users see how many people have saved tweets as part of their personal collection.
Social media platforms believe this new feature will encourage users to actively engage with their platforms by collecting and sharing content with others.
Twitter has always been blockchain friendly, especially now it’s run by Elon Musk. His recent partnership with eToro, a social trading company, allows Twitter users to trade stocks and cryptocurrencies directly on the platform.
The partnership will expand Twitter’s cashtags to cover more products and asset classes. This indicates that the platform is moving towards more inclusive financial services.
The rise of digital collections marks the end of the age of passive likes and hearts. Social media platforms, led by Spotify and Twitter, are moving to more active forms of user engagement through digital collections.
It is becoming increasingly clear that the next generation of social media platforms will be based on collecting digital goods as their primary incentive mechanism. Platforms such as Xiaohongshu have already started implementing this trend.
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