YouTube video streaming platform, owned by Google, is exploring non-fungible token (NFT)-based features for creators. YouTube CEO Susan Wojcicki has revealed plans for YouTube to venture into NFTs, but didn’t say exactly what the team is up to or when people would expect these “features” to appear on YouTube. However, this is the first time Google has been involved in NFTs that are currently quite hyped on the internet. This comes shortly after Twitter announced NFT-based profile pictures for users who own non-fungible tokens.
Wojcicki, was quoted by Bloomberg as saying in an email to YouTube creators that the company is expanding the YouTube ecosystem to help creators take advantage of emerging technologies, including things like NFTs, while enhancing the experiences of creators and their fans on YouTube. continues to strengthen and improve. . This comes at a time when many YouTube creators are venturing into NFTs and making videos and tutorials about crypto and related technology.
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The YouTube CEO also said in her letter that the company’s priorities are gaming, shopping, music and Shorts – the short video format similar to TikTok and Instagram Reels. Wojcicki said Shorts have claimed more than 5 trillion views on YouTube since its launch in 2020.
NFTs are digital assets stored on a blockchain. NFTs can be anything: an image, a video, an image, an icon, or even a single pixel or piece of text. The non-fungible in Non-fungible tokens means that the item is unique and one of a kind. Currently, NFTs are all the rage on the internet, with people spending millions of dollars for a digital art or image that will give them some usefulness or value over time.
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