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Great News For Creators As YouTube Plans To Explore NFT Features

Youtube CEO said that they’re always looking for ways to expand the YouTube ecosystem to ensure creators can capitalise on emerging technologies like NFTs.

Great news for creators as YouTube plans to explore NFT features

YouTube CEO stated on Tuesday that the firm is looking into ways for its video producers to profit from non-fungible tokens, making it the latest internet giant to jump into the digital collectibles craze that has erupted in the last year.

In a letter outlining the company’s priorities for 2022, Youtube CEO Susan Wojcicki said that they’re always looking for ways to expand the YouTube ecosystem to ensure creators can capitalise on emerging technologies like NFTs striving to improve and enhance the experiences of both fans and creators.

NFTs are digital assets that reside on the blockchain record-keeping system. People are buying artwork and video clips from sports games in the form of NFTs, which have experienced a boom in popularity in the last year.

According to market tracker DappRadar, sales of NFTs reached over $25 billion in 2021, however, signs of growth slowing near the end of the year were witnessed.

A representative for Alphabet Inc’s (GOOGL.O) YouTube declined to provide any information on the proposed NFT features, which were initially reported by Bloomberg News.

Twitter Inc (TWTR.N) announced the release of a technology that allows users to present NFTs as hexagonal profile images last week. This month, the Financial Times reported that Meta Platforms Inc (FB.O) was working on ways to allow people to produce and trade NFTs on Facebook and Instagram. Instagram CEO Adam Mosseri stated in December that the firm was looking at NFTs.

TikTok, the popular short video app, entered the trend in September, announcing NFT collections by a number of its top creators.

Reddit Inc. has also shown interest in the field, with recent job postings on LinkedIn announcing numerous engineer positions for a rapidly expanding team that wants to construct the greatest creator economy on the internet, driven by independent producers, digital commodities, and NFTs.

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