YouTube is considering offering NFT features as a new source of revenue for its creators, said company CEO Susan Wojcicki
CEO Susan Wojcicki hinted at the possibility of adopting Web3 technology, such as NFT (non-fungible tokens) – a technique to authenticate digital assets held on the blockchain — in an open letter released today. As It stays is unclear when YouTube will begin using NFT technology. But Wojcicki cited the Web3 industry’s advances as a “source of motivation to continue developing on YouTube.”
In the letter, Wojcicki referred to Web3 as a “source of inspiration” for YouTube, specifically drawing attention to DAOs. “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,” the letter reads.
It also touches on YouTube’s other projects and investments, such as in gaming, creator monetization and more. It also explains its views on key regulatory problems, such as the FCC’s proposed changes to the Copyright Act. According to Wojcicki, the number of channels globally generating at least $10,000 a year climbed by 40% year over year. YouTube channel subscriptions and paid digital items were also bought or renewed by subscribers worldwide. In excess of 110 million instances. A total of 800,000 employment in the United States and other developed countries are supported by YouTube’s ecosystem by 2020.
