Now YouTube Is Getting Into The NFT Game
The NFT (Non-Fungible Token) wave keeps adding more companies in 2022, and it appears that YouTube is next, with the video-sharing platform's CEO calling it an incredible opportunity. YouTube is not the only social platform gravitating towards the phenomenon that is NFTs. Earlier this month, Twitter announced that users could flaunt their NFT collection with a custom hexagonal profile picture. TikTok launched its first NFT collection riding the creator wave back in September last year.
Meta, on the other hand, wants to go a step further. The company is reportedly building tools to allow Facebook and Instagram users to create digital art, mint it, and sell it on a native marketplace. Unsurprisingly, there is no shortage of influencers out there that have partnered with digital artists to create or endorse custom NFT collections. Even smartphone makers like OnePlus have jumped the NFT bandwagon for some reason. And despite a healthy chunk of internet users dismissing them as a short-lived artsy tech infatuation, NFTs have become a multi-billion dollar business.
Related: The Price For This Man's Selfie NFT Collection Will Shock You
YouTube doesn't want to stay away from all those billions. In a letter, YouTube CEO Susan Wojcicki remarked how NFTs, alongside crypto and decentralized autonomous organization (DAOs), has emerged as a massive opportunity lately for creators to forge deeper connections with their fans. To recall, Instagram pushes the same mantra for its subscriptions tool, and so does Facebook. As for the method behind how YouTube embraces NFTs, it looks like creators will likely be in charge here, serving exclusive digital art to paying subscribers or simply selling it while also sharing some sweet revenue cut
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