As part of YouTube’s intent to “help creators capitalize on emerging technologies,” the creator platform’s CEO Susan Wojcicki hints that NFTs could be added to the platform.
Susan Wojcicki, YouTube’s Chief Executive Officer, addressed the firm’s priorities for 2022 in a message published on the official blog on Tuesday. The idea of providing a nonfungible token, or NFT, functionality for the platform’s video makers was one of those priorities.
there’s *so much* to 🎉 in 2022: @SusanWojcicki shares the future of YouTube → https://t.co/uL2WIbLwXK pic.twitter.com/JEW8yzqh7e
— YouTube (@YouTube) January 25, 2022
However, the exact nature of this has yet to be revealed. Apart from the suggestion that the YouTube team will use advancements in the Web3 space “as a source of inspiration,” Wojcicki’s statement provided no further details.
“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.”
YouTube seeks tech advancement
According to Wojcicki, there are currently ten ways for artists to monetize their business, including adverts and the newly released TikTok-like YouTube Shorts. As YouTube strives to extend the number of ways that creators can earn money, one possibility is to “capitalize on emerging technology.” Could NFTs be the next big thing?
According to Similarweb, YouTube has one of the largest creator communities and is the world’s second most visited website. YouTube is competing to retain and attract talent in light of the advent of the Metaverse and other Web3 initiatives by social media platforms like Meta and Twitter, which recently permitted iOS users to use NFTs as profile images.
In Wojcicki’s message, she also stated that one of their top priorities is to improve the live experience for game makers. Because NFT integration in video games has been a popular use case for the technology, game makers may be more willing to make use of YouTube’s new initiative.
