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This is a big deal: YouTube could have NFTs!

Susan Wojcicki, YouTube’s CEO, wrote to the site’s broadcasters on Tuesday that the company is looking into adding nonfungible token features for video creators.

Is it possible that YouTube NFTs will take place this year? Possibly. CEO Susan Wojicki noted in a letter to the platform’s creators that the platform is looking into how the digital collectibles could help the producers. She claims that NFTs have become a “source of inspiration” for YouTube.

NFTs are one of the most important digital trends for 2022, as they are a fundamental component of Web3. In our explanation of the NFT trends for 2022, we explain how the influence of nonfungible tokens (NFTs) will change everything from games to branding and art. Take a look at our guide to the finest video editing tools if you want to get ready for YouTube’s NFT future.

The NFT play on YouTube

Wojicki wrote: “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.”

Continuing, she detailed: “We’re always focused on 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 fans have on YouTube.”

The concept of YouTube allowing its artists and influencers to sell NFTs to their fans directly could be big for both the site and its users. The use of NFTs on the video streaming platform may have an impact on how large businesses sell themselves, ushering in a new era of innovative design, gaming, and video production.

We’re always focused on expanding the YouTube ecosystem to help creators capitalise on emerging technologies, including things like NFTs

YouTube CEO Susan Wojicki

NFT adoption in YouTube content might help producers establish far deeper community engagements, and companies could give NFT holders the ability to “own” a campaign. If done for creative reasons, the scope and size of what this could signify for producers and platforms like YouTube is enormous.

We believe YouTube is waiting for a better eco-system around NFT development, which is on the way thanks to blockchains like Flow, Wax, and Solana, which are carbon-neutral and low-carbon. We anticipate YouTube adopting NFTs sooner rather than later.

However, while YouTube has joined a growing list of big platforms, such as Meta (Facebook), Instagram, and Twitter, in endorsing NFTs, we have yet to see concrete examples of how this would work.

Written by IOI

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