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YouTube to launch potential NFT feature to benefit creators
YouTube is looking into the non-fungible token (NFT)-based services for its creators. In a letter published today, YouTube CEO Susan Wojcicki stated that the firm is seeking to expand into NFTs in the future as another source of revenue for its content creators.
This is the first time Google has been involved with NFTs; This comes shortly after Twitter launched NFT-based profile pictures for non-fungible token owners. Facebook is also considering something similar in which people can showcase their NFTs.
In a letter to the YouTube community, Wojcicki emphasized that the firm is growing the YouTube ecosystem to help creators capitalize on emerging technologies such as NFTs while reinforcing and improving the experiences creators and their fans enjoy on YouTube.
According to her letter, YouTube CEO Susan Wojcicki stated that the company's goals include gaming, shopping, music, and Shorts - the short video format comparable to TikTok and Instagram Reels.
"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," the letter reads.
YouTube did not provide further details on how NFT features might be applied at the company.
The creators of a few successful YouTube videos have already transformed and sold them as NFTs. The Charlie Bit Me NFT, which depicts newborn chewing on his brother's finger, was auctioned off for $760,000 last year. As an NFT, David After Dentist, a film about a disoriented youngster after the anaesthetic, sold for more than $11,000.