HomeBusinessYouTube will explore NFT features for creators

YouTube will explore NFT features for creators

YouTube is exploring features for its video creators to capitalize on non-fungible tokens, its chief govt officer stated on Tuesday, turning into the most recent tech firm to faucet right into a digital collectibles craze that has exploded previously yr.

“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 YouTube CEO Susan Wojcicki in a letter on the corporate’s 2022 priorities.

NFTs are a kind of digital asset which exist on the record-keeping know-how blockchain. They have seen a surge in recognition over the past yr, with folks shopping for art work and video highlights from sports activities video games as NFTs.

Sales of NFTs reached some $25 billion in 2021, in accordance with information from market tracker DappRadar, though there have been indicators of progress slowing towards the top of the yr.

A spokesperson for Alphabet Inc’s YouTube declined to share extra particulars concerning the potential NFT features, which have been first reported by Bloomberg News.

Last week, Twitter Inc introduced the launch of a software by way of which customers can showcase NFTs as hexagonal profile photos. The Financial Times reported this month that Meta Platforms Inc have been engaged on methods to let customers create and promote NFTs on Facebook and Instagram. In December, Instagram head Adam Mosseri stated the corporate was exploring NFTs.

The widespread quick video app TikTok in September ventured into the craze, asserting an NFT assortment designed by a few of its prime creators.

Reddit Inc has additionally been exploring the house: latest job listings from the corporate on LinkedIn marketed for a number of engineer roles for a “rapidly growing team that aims to build the largest creator economy on the internet, powered by independent creators, digital goods, and NFTs.”

(Reporting by Elizabeth Culliford in New York; Editing by Lisa Shumaker)

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