YouTube to explore NFT features for creators

In a letter published today by YouTube CEO Susan Wojcicki suggested that the company is looking into branching into NFTs in the future as another source of revenue for creators.

There weren’t any exact details on what YouTube is planning with regards to NFTs, but it is the first time that the company is becoming involved with the cryptocurrency. Wojcicki told creators that YouTube was looking to web3, an umbrella term for internet models built around crypto, as a “source of inspiration”.

YouTube may allow creators to sell NFTs directly to their fans. Twitter already joined the NFT bandwagon as it first experimented with NFT profile pictures. Instagram has also expressed interest in NFTs, as Facebook and Instagram are working on an NFT marketplace.

“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.”

YouTube is also trying to expand to other monetization opportunities in the coming year. Wojcicki says that podcasts and shopping features will be in the pipeline with regards to expand opportunities for its creators.

Source: YouTube