YouTube To Bring Potential NFT Features; New Revenue Stream For Content Creators

|

YouTube NFTs are in development. YouTube CEO Susan Wojcicki hinted in a letter published that the firm is considering branching out into NFTs in the future as a new source of revenue for creators.
The letter states, "We're always focused on growing the YouTube ecosystem to enable creators to capitalize on emerging technologies, such as NFTs, while continuing to reinforce and enrich the experiences creators and fans have on YouTube."

 
YouTube To Bring Potential NFT Features

Without going into specifics, Susan Wojcicki stated that the company is considering NFTs as a future revenue source for its creator community. Wojcicki stated in a letter to the YouTube community that the firm is focusing on upcoming technologies, identifying NFTs as one of them.

 

YouTube Preparing To Enter The NFT Market Soon

Wojcicki's recent letter lists areas the business aims to invest in, such as gaming and shopping, as well as how it plans to help artists, includes the information. According to Wojcicki, YouTube is looking to Web3 "as a source of inspiration," citing the potential for crypto, decentralized autonomous organizations (DAOs), and non-fungible tokens (NFTs).

Other platforms that have recently launched out their own versions or are rumored to be planning an NFT feature are following YouTube's lead. Users who hold a specific JPEG can now use a hexagonal profile image to "show off your cherished possessions" on Twitter. Meta, which owns Facebook and Instagram, is rumored to be working on a similar platform where users may reveal their token holdings. Reportedly, a marketplace for NFTs is also in the process.

YouTube Bring NFT Features For Video Creators

YouTube did not disclose any additional information on how NFT features might be implemented at the company.

The creators of a few popular YouTube videos have already transformed them into NFTs and sold them. Last year, the Charlie Bit Me NFT, which depicts a newborn chewing his brother's finger, was auctioned off for $761,000. David After Dentist, a film of a disoriented youngster after the anesthetic, sold for more than $11,000 as an NFT.

YouTube is also giving producers more freedom by releasing tools. YouTube will be focusing more on Shorts and Music, according to the CEO. "Every day, we strive to enhance how we assist creators in getting started and reaching an audience on Shorts. We began rolling out a new remix feature last year that allows you to make Shorts with music from other YouTube videos." New features for game streamers would be introduced by YouTube.

"We've seen incredible development in the evolution of gaming, from immersive narrative to the world's largest contests finding a home on YouTube."YouTube had over 800 billion gaming-related views, over 90 million hours of live streaming, and over 250 million uploads in the first half of 2021 alone."

Best Mobiles in India

Best Phones

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Yes No
Settings X
X