YouTube explores NFT features for video creators2 min read
After Twitter and Meta, it’s time for YouTube to explore the universe of non-fungible tokens (NFTs).
According to a letter to the YouTube community sent by CEO Susan Wojcicki on Tuesday (25), the US video streaming giant wants to help content creators take advantage of new emerging technologies, citing NFTs as an example.
The letter outlines the areas the company plans to invest in, such as gaming. Also, Wojcicki mentions how he plans to support creators.
YouTube also said it is looking to developments within the Web3 ecosystem “as a source of inspiration”.
YouTube explores NFTs
In the text, Wojcicki specifically cites opportunities with crypto, decentralized autonomous organizations (DAOs), and NFTs.
“We are always focused on expanding the YouTube ecosystem to help content creators take advantage of emerging technologies, including things like NFTs. In the meantime, we continue to strengthen and enhance the experiences creators and fans have on YouTube,” Wojcicki wrote.
YouTube did not provide additional details on how NFT resources could be applied across the company.
It is worth noting that, although NFT features are not yet integrated into the platform, several YouTube content creators have already turned them into NFTs and sold them on their own.
In 2021, a video showing a baby biting its brother’s finger was made into NFT and sold for $761,000.
Social media and NFTs
YouTube’s alleged NFT initiative is in line with recent developments on major social media platforms.
On January 20, Twitter announced that some iOS (iPhone) users will be able to import NFTs from their cryptocurrency wallets and post them as their profile pictures on the social network.
The feature allows users to obtain a hexagonal-shaped NFT profile picture as proof of authenticity.
Likewise, Meta, the parent company of Facebook and Instagram, has suggested that it intends to launch a market for NFTs.
The initiatives come in a context where non-fungible tokens are becoming popular among celebrities and large companies.