Global – The streaming service is inviting fans and artists to connect with each other in gaming platform Roblox. Its digital destination, Spotify Island, will engage users through interactive quests, exclusive content and the option to buy artist merchandise. It also encourages music fans to create their own music, using stations by virtual beat-maker platform Soundtrap.

To further entice users, Spotify enables creators to perform their music on a virtual stage, and work to become top of the charts within Roblox. Through this initiative, Spotify draws on the popularity of gaming to elevate its services and bolster interactivity. ‘We’re flipping the script and empowering players to be the creators and truly feel like they’re the artist performing,’ comments Abby Stewart, director of business development at Spotify.

With young audiences driving a shift towards democratised music communities, such projects enable amateur creators to more easily express their musical talents.

While alternative finance investment has shown promising growth in recent years, activity from fintech and social media platform Robinhood suggests the market is losing steam. According to The Washington Post, in the first quarter of 2022, Robinhood’s monthly active users fell 10% year on year.

Meanwhile, activity on the platform is also flatlining, with transaction revenues having fallen by almost half, and average quarterly revenue per user down by 61%. This slump in trade in cryptocurrencies such as Bitcoin comes at a time when the cost of living crisis and the war in Ukraine are prompting more frugal, risk-averse finance behaviours.

For some consumers, investment in Alternet Economies remains an appealing proposition. But brands and businesses must continue to keep track of fluctuating interest in an uncertain economic climate.