Explore YouTube NFTs
Video streaming giant YouTube will explore NFT features, according to CEO Susan Wojcicki
US video streaming giant YouTube could become the latest major brand to jump on the non-fungible token train, according to a letter published earlier today by CEO Susan Wojcicki.
Wojcicki says her company aims to help content creators take advantage of new emerging technologies, citing NFTs as an example:
We are always focused on expanding the YouTube ecosystem to help creators take advantage of emerging technologies, including things like NFTs, while continuing to empower and improve the experiences of creators and fans on YouTube.
YouTube is also closely monitoring new developments within the nascent Web3 ecosystem. The letter states that the new iteration of the Internet serves as “an inspirational source” for the video hosting giant.
Wojcicki also highlights the success of YouTube Shorts, the company’s TikTok competitor, and claims it has already racked up five trillion views.
It remains to be seen how YouTube will approach Web3 and NFTs as no further details were revealed in the letter.
While these are some of the hottest buzzwords right now, embracing the latest web trends might not necessarily be the best idea. TikTok’s failure could be a warning lesson for other companies. The fledgling video app announced a series of NFTs in September featuring musicians like Lil Nas X, Bella Poarch and Grimes, but the project was shelved due to a “messy” rollout that some insiders described as a “complete joke”, Rolling Stone reported in October.
Elon Musk, the world’s richest person, is highly skeptical of Web3 and NFTs. The centibillionaire recently scolded Twitter for allowing users to show off their digital collectibles as profile pictures. Last month, Musk said Web3 was more about “marketing than reality.”
YouTube has attracted a slew of successful cryptocurrency creators in recent years, but it has also become a hotbed for crypto scams.