As social a platform as YouTube is, it might actually be considered a surprise that it has yet to mention or move into the trending space of NFTs. That’s about to change. In a recent letter, YouTube CEO Susan Wojcicki announced the platform is making an effort to investigate opportunities for implementation of both NFT and Web3 applications on its site. It is her claim that this new technology will supply a meaningful way to for content creators and their audiences to connect and interact.
The letter from Wojcicki was released on YouTube’s blog on January 25, 2022. In said letter, Wojcicki shared enthusiasm for the exploration and utilization of both NFTs and Web3 technology on the YouTube platform.
Wojcicki’s stance on NFTs is one that is becoming increasingly widespread in the tech industry, especially among social media platforms. Both Twitter and Facebook (Meta) recently expressed plans to utilize NFT technology and opportunities for users on both of their platforms. Video games have gotten into it too with Ubisoft and Konami announcing NFT products and groups like Electronic Arts, Square Enix, and recently Sega expressing interest in exploring the trend.
With YouTube having recently launched a service very similar to TikTok (who also recently got into NFTs), it’s arguably in prime position to follow the trend throughout social tech.
What YouTube’s utilization of NFTs and Web3 application looks like remains to be seen, but the recent letter from Susan Wojcicki makes it clear that YouTube is out to take advantage of the trend while it’s here. Stay tuned as we wait to see what that looks like in future updates.