YouTube To Explore NFT Features For Creators
In an open letter to YouTube creators released today, the platform’s CEO Susan Wojcicki has suggested that the company will consider embracing many emerging Web3.0 tools, including NFTs, as a means to help creators make money.
Let’s look at what we know from Wojcicki’s open letter, and what we could potentially expect from the dominant video platform as we look ahead.
YouTube Looks To “Grow The Connection Between Creators And Their Fans”
There are no hard plans or deadlines around any of YouTube’s potential NFT – or blockchain-related – integrations, however there is now abundant speculation around what NFTs could look like on the platform and how they could be best utilized. Some have suggested that digital artists may be able to feature their NFT artwork through tools on the platform, or that NFTs could be integrated into YouTube user profiles in some capacity – however neither of these ideas are backed by any formal details from the company.
Wojcicki described the current innovations around Web3.0 driving tools as a “source of inspiration to continue innovating on YouTube.” The move follows a number of social media and content-adjacent platforms, such as Twitter, Meta, and Reddit, who have all taken some sort of leap (or expressed intent to do so) in the world of NFTs.
“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.”
In the big picture, YouTube is a particularly interesting beast to enter the crypto-space, particularly considering the platform’s image for many years around crypto; many scammers have utilized the platform to promote scam tokens, and the platform has been criticized heavily in the crypto community for censoring vocal advocates in the past.
Can this latest move bolster YouTube’s image in the crypto community, and make creator’s monetization strategies even more diverse and robust?
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