As per The Verge report, YouTube plans to step into the NFT market and create a new monetization pathway for its creators. The goal is to “help creators capitalize on emerging technologies.” “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,” YouTube CEO added. Wojcicki has recently released a letter to YouTube community that highlights the platform’s future and new investment areas. Gaming and shopping would be two areas of focus for YouTube. Also, supporting creators and creating new sources of revenue is a priority for YouTube. According to Wojcicki, Web3 is “a source of inspiration,” and crypto, decentralized autonomous organizations (DAOs), and NFTs could bring new opportunities for both YouTube and creators. The company refused to provide any additional information on how it wants to bring NFTs to the platform. But as more companies are stepping into the NFTs market, it shouldn’t take long for YouTube to reveal its exclusive NFT marketplace.
NFT is a new way for YouTube creators to make money
Currently, advertising is the most common way for YouTube creators to make money. Also, the creators of popular videos would receive money per the view from YouTube. Of course, some YouTube creators have already started to sell NFTs. One of the most famous of sold NFTs on YouTube is the Charlie Bit Me, which sold for $761,000. The NFT of David After Dentist was also priced at $11,000. However, YouTube is not alone in jumping into the NFT bandwagon. Twitter allows users to own a JPEG to “show off your prized possessions.” Meta is also investing in a new feature to let users show their tokens. Moreover, the company is reportedly developing a NFT market. The glamor of the NFT market is so great that even smartphone makers are thinking about entering the market. OnePlus is reportedly developing its crypto wallet, and in the questionnaire, it asked its users whether they use NFTs.
