YouTube CEO Susan Wojcicki managed YouTube's priorities for 2022 in a letter published Tuesday on the company's blog. Among those priorities is the ability to add non-fungible token, or NFT, capabilities for video creators on the platform.
there's *a lot* for 2022: @SusanWojcicki share the future of YouTube โ https://t.co/uL2WIbLwXK pic.twitter.com/JEW8yzqh7e
- YouTube YouTube) January 25, 2022
How this could be, however, has yet to be determined. No additional details were provided in Wojcicki's statement, other than the statement that the YouTube team will use developments in the Web3 space "for inspiration".
"In the past year in the crypto world, non-fungible tokens (NFTs) and even decentralized autonomous organizations (DAOs) have highlighted a previously unimagined opportunity to increase the connection between creators and their fans."
As YouTube looks to expand the number of ways creators can earn money, one option is to "take advantage of emerging technologies." There are currently 10 ways creators can monetize their business according to Wojcicki, including recently introduced TikTok-like YouTube ads and shorts. Could NFTs be next?
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YouTube has one of the largest creator communities and is the second most visited site in the world. according to Similarweb. In light of the rise of the Metaverse and other Web3 initiatives by social media platforms like Meta and Twitter, which has recently enabled iOS users will use NFT as profile picturesYouTube seeks to compete to retain and attract talent.
In his letter, Wojcicki also mentioned his intention to improve the live experience for game creators as a priority. Since the integration of NFT into video games has become the main use case for NFT adoption, this could suggest that game creators may be more open to capitalizing on YouTube's new initiative.
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