Susan Wojcicki, CEO of YouTube, posted a letter today highlighting that the video platform is working on improving the platform, and ways to add additional sources of income to the creators. One of the new ways could be to offer NFT features, which seems to be the new norm nowadays.
The letter highlights some of the new achievements by YouTube, such as 5 trillion all-time views on YouTube Shorts. Creators also earned more, and the number of channels around the world making more than $10,000 a year is up 40-percent year-over-year. It’s clear that NFT’s could help creators earn even more, in new ways.
“We’re also looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube. The past year in the world of crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans. 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.” states the letter.
Twitter has also recently started implementing NFT into its social media platform, and it is now allowing users to set NFT content as their profile pictures. Meta (formerly known as Facebook) is reportedly also working on implementing NFT features into Facebook and Instagram, and it remains to be seen what solutions and unique features the platform will come up with. We may see a similar profile picture implementation, but the platform could also make an auction-style marketplace where users could trade NFTs with other users. We have no official information, and we can only speculate at this time.