Cryptocurrency News

YouTube NFTs Might be in the Pipeline as the Company Looks For New Revenue Sources for Creators

By January 26, 2022 No Comments

The world’s largest video-streaming platform YouTube is reportedly searching for new sources of revenue for the platform’s rapidly growing number of content creators. In today’s letter to the YouTube community, the video streaming giant’s CEO Susan Wojcicki, suggested non-fungible tokens (NFTs) might offer a way for creators to effectively monetize their work on the platform.

Key takeaways:

  • “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,” wrote Wojcicki.
  • Wojcicki is not interested exclusively in NFTs, but said that YouTube is actively looking to the Web3 sector “as a source of inspiration,” and is intrigued by the potential of decentralized autonomous organizations (DAOs) as well.
  • The letter didn’t include any details or timetables about the launch of NFTs on the YouTube platform.
  • A renewed interest in NFTs, the spike in sales, and the growing number of registered users have contributed to OpenSea, the world’s largest NFT marketplace, having its best month to date in January 2022.