YouTube’s CEO, Susan Wojcicki, addressed YouTube’s priorities for 2022 in a letter printed Tuesday on the corporate weblog. Amongst these priorities is the opportunity of including nonfungible token, or NFT, options for the platform’s video creators.
— YouTube (@YouTube) January 25, 2022
What this might seem like is but to be decided, nonetheless. No further particulars have been supplied in Wojcicki’s assertion except for the declare that the YouTube workforce will use developments within the Web3 house “as a supply of inspiration.”
“The previous 12 months on the earth of crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a beforehand unimaginable alternative to develop the connection between creators and their followers.”
As YouTube seems to broaden the variety of ways in which creators can earn cash, one possibility is to “capitalize on rising applied sciences.” At present, there are 10 methods for creators to monetize their enterprise in keeping with Wojcicki, together with advertisements and the newly launched TikTok-like YouTube Shorts. May NFTs be subsequent?
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YouTube boasts one of many largest creator communities and is the second most visited website on the earth, according to Similarweb. In gentle of the rise of the Metaverse and different Web3 initiatives by social media platforms like Meta and Twitter, which has just lately allowed iOS customers to make use of NFTs as their profile photos, YouTube seems to compete to retain and entice expertise.
In her letter, Wojcicki additionally talked about their intention to enhance the dwell expertise o gaming creators as a precedence. Since NFT integration in video video games has change into the primary use case for the adoption of NFTs, this might recommend that gaming creators could also be extra open to capitalizing on YouTube’s new initiative.