YouTube CEO Susan Wojcicki has revealed that the platform is exploring on adding non-fungible token (NFT) features in the future.
Taking Web3 as a source of inspiration, Wojcicki plans for YouTube to tap into the global craze that is crypto, NFTs, and decentralised autonomous organisations (DAOs).
“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,” said the CEO in her 2022 letter to the YouTube community.
The NFT market swelled to almost US$41 billion (~RM172 billion) in 2021 globally, and practically every social media platform under the sun has rushed to take part in the trend. Last week, Twitter launched a feature that allows users to prominently display their NFTs on their profiles, and is working on creating a gallery for collectors to showcase their NFT collection.
Meanwhile, Meta is working on integrating NFT features into Facebook and Instagram, while TikTok roped in its creator community to launch an NFT collection. While YouTube itself is a bit late to the game, creators of classic viral videos such as Charlie Bit Me and David After Dentist have already turned them into NFTs and successfully sold them.