YouTube chief executive Susan Wojcicki has recently published a letter in which she hints the world's largest video-sharing platform might take up web3 technologies, including NFTs. According to the CEO, this embrace would provide YouTube creators with access to another good source of monetization. No dates or concrete actions towards YouTube NFT integration were announced.
“The past year in the world of crypto, non fungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans,” she wrote. “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.”
However, YouTube can already boast a couple of tools in its arsenal that could allow artists to show off their non-fungible tokens. Today the video platform offers a “merch shelf” option that can appear underneath a creator’s video, for example, where they can feature products, like apparel, collectibles, plushies, vinyl records, and more, with the help of an ever-growing number of supported retail partners. It would be a logical suggestion that YouTube could integrate blockchain technologies and allow users to add crypto wallets in order to promote their NFTs accordingly.
Or, maybe, Susan Wojcicki noted the NFT and web3 integration against the backdrop of Twitter's new feature and announcements, revealing Facebook and Instagram's NFT intentions.
Let's wait and see!