YouTube will probably release NFTs shortly. In a letter published today, YouTube CEO Susan Wojcicki hinted that the company is exploring branching out into NFTs in the future as a new source of money for creators.
With comparable features, other platforms are following YouTube’s lead. A hexagonal profile photograph can now be used to “show off your greatest goods.” Meta, which owns Facebook and Instagram, is rumored to be working on a similar platform where people can display their photos.
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YouTube CEO Susan Wojcicki covered dislikes, Shorts, Content ID, and NFTs
YouTube CEO Susan Wojcicki hints at new revenue streams for creators. NFTs will most likely be available on YouTube soon. Web3 “as a source of inspiration” is cited as an area for investment by the CEO in his letter to the YouTube community.
“While continuing to reinforce and enhance the creators and fans of the experience have on YouTube,” the letter continues, “we’re always focused on growing the YouTube ecosystem to enable creators to capitalize on emerging technologies, such as NFTs.”
Wojcicki’s recent letter to the YouTube community, which lists areas the business aims to invest in, such as gaming and shopping, as well as how it plans to help artists, includes the information. YouTube is turning to Web3 “as a source of inspiration,” according to Wojcicki, who notably mentions the prospects with crypto, decentralized autonomous organizations (DAOs), and non-fungible tokens (NFTs).
Other platforms that have recently launched their versions or are rumored to be planning an NFT feature are following YouTube’s lead. Users who hold a specific JPEG can now use a hexagonal profile image to “show off your cherished possessions” on Twitter. Meta, which owns Facebook and Instagram, is rumored to be working on a similar platform where people can display their photos.
YouTube provided no further details on how NFT features might be utilized at the corporation. The creators of a few popular YouTube videos have already transformed them into NFTs and sold them. Last year, the Charlie Bit Me NFT was auctioned off for $761,000. It depicts a newborn eating his brother’s finger. As an NFT, David After Dentist, a video about a disoriented youngster after an anesthetic, sold for over $11,000.
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