YouTube CEO Hints Potential NFTs to Come to Platform | Monetizing to a Whole New Level

Urian B., Tech Times 25 January 2022, 06:01 pm

Susan Wojcicki, the CEO of YouTube, addressed the priorities of the streaming giant for 2022. With the recent rise of the metaverse and as well other Web3 initiatives by social media platforms, these priorities apparently include the possibility of adding NFTs or non-fungible token features for the video creators of the platform.

YouTube CEO Acknowledges the Importance of NFTs and DAOs in 2021

Susan Wojcicki addressed YouTube's priorities for 2022 in a company blog post. It should be noted that Wojcicki's statement includes a claim that the company's team will be using certain developments in the Web3 space as some sort of "source of inspiration."

According to the story by CoinTelegraph, Wojcicki has said that the past year has highlighted certain things like NFTs or non-fungible tokens, as well as decentralized autonomous organizations or DAOs. These things, according to YouTube's CEO, highlights a opportunity that is previously unheard of to grow the whole connection between both creators and fans.

there's *so much* to 🎉 in 2022: @SusanWojcicki shares the future of YouTube → https://t.co/uL2WIbLwXK pic.twitter.com/JEW8yzqh7e
— YouTube (@YouTube) January 25, 2022

Youtube has 10 Ways for Creators to Monetize Their Business on the Platform Including YouTube Shorts

As the platform is currently looking to expand the number of ways that creators can be able to earn money, one option is actually to capitalize on emerging technologies.

As of press time, there are about 10 ways for creators to be able to monetize their business, according to Wojcicki. These include ads as well as the newly introduced TikTok-like YouTube shorts.

The real question right now is if NFTs could be next since this has started to become one of the highlights of 2021. Different content that came from YouTube were actually even sold as NFTs. This include bits like the very popular "Charlie Bit My Finger" NFT, which sold for $760,999, according to a report by NBCNews.

YouTube, as of press time, boasts one of the largest ever content communities around the world and is now officially the second most visited site all around. This is according to the data from Similarweb.

YouTube Looks to Compete with Other Platforms to Attract New Talent

In the light of the recent rise of the metaverse, along with other Web3 initiatives by platforms, YouTube is now looking to compete with the likes of Twitter and Meta, which recently allowed some iOS users to use NFTs as profile pictures, in order to retain and attract new talent.

As seen in the blog post, Wojcicki also mentioned their intention to be able to improve the whole live experience of gaming creators as another main priority of the tech giant. Since NFT integration within video games has become the very main use case for the whole adoption of NFTs, this may suggest that gaming creators could be more receptive towards capitalizing on YouTube's brand new initiative.

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Written by Urian B.