YouTube might be the next major platform to dive into NFTs
Right now, the company’s just keeping its options open.
Well, it looks like YouTube could be heading over to the dark side. The platform’s CEO, Susan Wojcicki, has suggested that the company might be looking into NFTs as a way to create more revenue for YouTube creators.
Wojcicki penned a letter to the YouTube community earlier this week. In the letter, she says “we’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube.”
This revelation comes just as other major platforms begin to embrace NFTs. Twitter just revealed a new feature that lets Twitter Blue subscribers set an NFT from their collection as their profile picture on the platform. Meta, the company formerly known as Facebook, is planning to do something similar on Facebook and Instagram.
Wojcicki’s full statement regarding NFTs:
We’re also looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube. The past year in the world of crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans.
We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube.
Wojcicki didn’t offer any kind of examples or insight into how NFTs would potentially work on YouTube. As of now, it looks like the platform’s CEO is just keeping options open for the platform in the future.
But, it seems like YouTube videos could already be set up perfectly to be minted into NFTs. Someone minted and sold the viral “Charlie Bit Me” video from 2007 as an NFT for a whopping $761,000.
If creators get a chance to turn their own content into NFTs with YouTube’s support, I could see many creators turning their viral videos into NFTs in hopes of raking in cash like the “Charlie Bit Me” deal.
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