YouTube announces that it will enter the market for non-fungible tokens . Very soon you will be able to buy the NFT of a viral video.
YouTube is one of the most recent platforms to enter the NFT market . In a letter to content creators about the platform’s priorities in 2022, CEO Susan Wojcicki suggested that the company is considering having its content creators benefit from digital collectibles.
“We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFT, while continuing to strengthen and improve the experiences creators and fans have on YouTube.” Wojcicki says.
Wojcicki indicates that YouTube is exploring the possibilities of Web3 “for inspiration,” including opportunities in Crypto, decentralized platforms, and NFTs.
The future of NFT on YouTube
Although it is not specified how YouTube plans to integrate NFT into its platform or what it might look like, the director has suggested that the technology could be a new source of income for video creators.
“The past year in the Crypto world, Non-Fungible Tokens (NFTS), and even Decentralized Autonomous Organizations (DAOS) have highlighted a previously unimagined opportunity to increase the connection between creators and their fans,” he wrote.
Other platforms are also interested in the crypto world , for example, Twitter has started allowing users to post NFTs as profile photos and, according to some reports, Instagram is working on a similar feature.