YouTube will explore NFT features for creators

Via Elizabeth Culliford

– YouTube is exploring options for its video creators to capitalize on non-fungible tokens, its leader govt officer stated on Tuesday, becoming the most recent tech company to faucet right into a virtual collectibles craze that has exploded in the past year.

“We’re at all times curious about increasing the YouTube ecosystem to help creators capitalize on emerging applied sciences, including things like NFTs, even as proceeding to strengthen and support the experiences creators and fans have on YouTube,” wrote YouTube CEO Susan Wojcicki in a letter at the company’s 2022 priorities.

NFTs are a kind of virtual asset which exist on the report-retaining era blockchain. they’ve noticed a surge in reputation over the ultimate 12 months, with folks shopping for artwork and video highlights from sports games as NFTs.

Sales of NFTs reached a few $25 billion in 2021, in keeping with data from market tracker DappRadar, despite the fact that there have been signs of growth slowing towards the end of the yr.

A spokesperson for Alphabet Inc’s YouTube declined to share extra details about the potential NFT options, which were first said by Bloomberg News.

Last week, Twitter Inc introduced the launch of a tool in which users can show off NFTs as hexagonal profile photos. The Financial Times mentioned this month that Meta Platforms Inc were working on ways to allow users create and sell NFTs on Facebook and Instagram. In December, Instagram head Adam Mosseri mentioned the company used to be exploring NFTs.

the popular quick video app TikTok in September ventured into the fad, saying an NFT assortment designed through a few of its best creators.

Reddit Inc has also been exploring the gap: up to date job listings from the company on LinkedIn advertised for a number of engineer roles for a “all of a sudden rising group that targets to construct the largest creator economic system on the internet, powered through unbiased creators, virtual goods, and NFTs.”

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