Video sharing behemoth, YouTube, has become the latest tech giant to show an interest in NFTs, revealing that it’s currently investigating potential uses for the state of the art technology.
News broke as YouTube CEO, Susan Wojcicki, delivered a statement outlining the plans for the year ahead. Speaking at the event, Wojcicki, told those present that the blockchain represents a “previously unimaginable opportunity,” referencing the potential for creators to further monetize their content through the use of NFTs and crypto.
Going forward, the unstoppable media train will investigate the potential for blockchain technology to revolutionize the YouTube landscape, assembling a task force to research the entirety of the Web3 ecosystem and preparing its team as it heads off on its journey of decentralized inspiration.
The initial focus will surround learning how YouTube can use NFTs to support its content makers, while also rewarding the loyal fans that contribute to their success. Therefore, expect regular updates on YouTube’s NFT exploits throughout the year.
YouTube’s flirtation with the blockchain follows in the footsteps of its social media contemporaries. Earlier this month, Twitter debuted its first NFT powered profile pictures, while Facebook and its underlings updated the space on its own non-fungible endeavors. However, Discord recently backtracked on its blockchain plans following a significant backlash from its users.