However, the timing of the test is not ideal, as interest in NFTs has cooled and blockchain businesses like FTX and Coinbase are reeling from fraud accusations or the continued crypto market downturn. Moreover, Spotify is currently cutting costs and recently announced layoffs of six per cent of its workforce, which may limit the company’s ability to invest in experimental features. The company is set to hold its Stream On event on March 8th, but it remains unclear if the NFT feature will be discussed.
