YouTube, the popular video content platform by Google/Alphabet Inc., is reportedly working on integration for NFTs on its app.
According to an address by YouTube CEO Susan Wojcicki, YouTube is realigning its strategies for 2022, with the aim of helping video content creators to “capitalize on emerging technologies” such as NFTs. This statements follows the blog post’s overall theme of focusing on its support for creators. With the global NFT art movement spreading like wildfire, it was only a matter of time when YouTube would’ve noticed its potential.
In a company blog post, Wojcicki said that the past year witnessed an innovative trend which “highlighted a previously unimaginable opportunity” for creators to “grow the connection between creators and their fans” in the form of “crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs).”
According to the executive, YouTube is looking “further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating.”
The possibility of integrating or adding NFT features on the platform is highly likely. One could recall, in fact, that Korean tech giant Samsung announced early this year at the Consumer Electronics Show in Las Vegas that it is integrating NFT features for its smart TVs. With online video consumption taking place on such devices, as well as a slew of other devices such as smartphones and tablets, the reach of NFTs can go far beyond just marketplaces built for desktop browsers.
YouTube has been supporting creator economies in much the same way that NFTs have opened opportunities for artists and creators around the world. The opportunity for mass adoption is glaring here: YouTube ranks as the second most-visited website in the world.
YouTube has not outlined any particular details on the matter yet, but if we are to go about with Wojcicki’s statements on how the YouTube development team is looking at innovations in the Web3 space as a source of inspiration, possibilities of integrating YouTube’s popular platform with NFTs certainly abound.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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