YouTube is reportedly looking into helping its content creators to take advantage of non-fungible tokens (NFTs). In an annual letter to content creators, Susan Wojcicki, chief executive officer of the social media platform said:
“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.”
Furthermore, according to Wojcicki, YouTube was drawing inspiration from Web3 for this initiative. However, Wojcicki did not specify what the online video sharing platform was planning, or when it intended to roll out.
YouTube’s announcement marks its first foray into the world of NFTs. In addition, it also follows the trend of some of its rivals such as Twitter and Instagram. Twitter began allowing users to use NFTs as profiles, while Instagram is also reportedly working on a similar concept.
Since crypto became popular, several YouTube creators have already capitalized on it by fashioning careers out of related content. This includes posting educational videos on the platform discussing crypto and all its paraphernalia – including NFTs, blockchain and DeFi. However, like other social media platforms used to publish crypto content, YouTube has also been buffeted with scam content.
Image Credits: Pixabay
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