YouTube Is Venturing Into NFTs, To Bring NFT-Related Features Soon, CEO Says

Please fol­low and like us:
Pin Share

Google-owned video stream­ing plat­form YouTube is explor­ing non-fun­gi­ble token (NFT)-based fea­tures for cre­ators. YouTube‘s CEO Susan Woj­ci­c­ki has revealed plans for YouTube to ven­ture into NFTs, but did not exact­ly say what the team is plan­ning or when peo­ple should expect these “fea­tures” to show up on YouTube. This, how­ev­er, marks the first time Google is becom­ing involved with NFTs that are quite hyped on the inter­net cur­rent­ly. This comes soon after Twit­ter announced NFT-based pro­file pic­tures for users who own non-fun­gi­ble tokens. 

Woj­ci­c­ki, was quot­ed by Bloomberg as say­ing in an email to YouTube cre­ators that the com­pa­ny is expand­ing the YouTube ecosys­tem to help cre­ators cap­i­talise on emerg­ing tech­nolo­gies, includ­ing things like NFTs, while con­tin­u­ing to strength­en and enhance the expe­ri­ences cre­ators and their fans have on YouTube. This comes at a time many YouTube cre­ators are ven­tur­ing into NFTs and mak­ing videos and tuto­ri­als on cryp­to and relat­ed technology. 

ALSO READ: NFTs Explained: What Is This Dig­i­tal Asset That’s Mak­ing So Many Peo­ple Millionaires?

YouTube’s CEO, in her let­ter, also said that the company’s pri­or­i­ties are gam­ing, shop­ping, music, and Shorts — the short video for­mat sim­i­lar to Tik­Tok and Insta­gram Reels. Woj­ci­c­ki said that since its launch in 2020, Shorts have claimed over 5 tril­lion views on YouTube.

NFTs are dig­i­tal assets that are stored on a blockchain. NFTs can be any­thing — an image, a video, a graph­ic, an icon, or even a sin­gle pix­el or a piece of text. The non-fun­gi­ble in Non-fun­gi­ble tokens means that the item is unique and one of its kind. Cur­rent­ly, NFTs are all the rage on the inter­net, with peo­ple spend­ing mil­lions of dol­lars for a dig­i­tal art or graph­ic that will give them some usabil­i­ty or val­ue over the course of time.

Read all the Lat­est News, Break­ing News and Coro­n­avirus News here.

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published.