Youtube ceo will explore nft video

YouTube’s CEO, Susan Wojcicki, said on Tuesday that YouTube is set to explore features to capitalise on non-fungible tokens for its video creators. YouTube is all set to become the latest tech company that will tap into the digital collectibility craze that has exploded in the past year.

Wojcicki also wrote in a letter on the company’s 2022 priorities that YouTube always focuses on expanding its ecosystem that helps creators to capitalise on emerging technologies, like NFTs, while also continuing to strengthen and enhance creators and fans’ experiences.

NFTs, or Non-Fungible Tokens, are a type of digital asset that exists on blockchain – a record-keeping technology.


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.”

Reached for comment, a YouTube spokesperson was unable to further elaborate on what YouTube may have in store, in terms of supporting NFTs.

YouTube, however, already has a number of ways it could allow creators to showcase their NFTs, if it desired. The video platform today offers a “merch shelf” option that can appear underneath a creator’s video, for example, where they can feature products, like apparel, collectibles, plushies, vinyl records and more, through a growing number of supported retail partners.

They have seen a surge in popularity over the last year, with people buying artwork and video highlights from sports games as NFTs.

Sales of NFTs reached some $25 billion (roughly Rs. 1,88,030 crore) in 2021, according to data from market tracker DappRadar, although there were signs of growth slowing toward the end of the year.

A spokesperson for Alphabet’s YouTube declined to share more details about the potential NFT features, which were first reported by Bloomberg News.

Last week, Twitter announced the launch of a tool through which users can showcase NFTs as hexagonal profile pictures.

Youtube ceo will explore nft video002

(Bloomberg) — YouTube is exploring adding nonfungible token features for its video creators, Chief Executive Officer Susan Wojcicki wrote to the site’s broadcasters on Tuesday.

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Although Wojcicki didn’t say exactly what her team is planning, or when, it marks the first time Alphabet Inc.’s Google, YouTube’s owner, is becoming involved with the cryptocurrency collectibles. Several of YouTube’s rivals have already jumped on the trend.

Youtube ceo will explore nft video3

Jan 25 (Reuters) – YouTube is exploring features for its video creators to capitalize on non-fungible tokens, its chief executive officer said on Tuesday, becoming the latest tech company to tap into a digital collectibles craze that has exploded in the past year.

“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,” wrote YouTube CEO Susan Wojcicki in a letter on the company’s 2022 priorities.

NFTs are a type of digital asset which exist on the record-keeping technology blockchain.

Youtube ceo will explore nft videocast

LeBron James “Cosmic” Dunk by NBA Top Shot

Final price: $397,600

NBA Top Shop has become one of the leading sports NFT marketplaces, collecting almost $750 million of sales in the past year. A little over half of that total has been credited to LeBron James’s Kobe Bryant tribute dunk (Moment #3/59) sold for $387,600 in February 2021.

💸 NOW FINAL: New Top Shot Record 💸

$387,600 is now the largest Top Shot sale. 🔥

Moment: #3/59 LeBron James Kobe tribute dunk, From The Top edition

The Moment was sold on @Heritage_Sport. Congrats to the buyer and seller! 🍾🎉 pic.twitter.com/3JD1kFaGfT

— MomentRanks (@MomentRanks) April 16, 2021

The results of NFT video sales is proving to become more relevant and lucrative within the last year.

And Facebook may be building an NFT marketplace, a report from The Financial Times recently said.

In addition to the news that YouTube may be open to building out web3 support in the future, Wojcicki offered a few more notable updates amid a comprehensive look back over the last year on YouTube.

She hinted, too, that YouTube would be expanding the “remix” feature on its TikTok rival called YouTube Shorts, which today supports remixing only audio content from other public videos. Though YouTube also couldn’t share more details on this feature, it’s likely that the company is looking into adding support for remixing video, as Instagram has now done. The CEO noted that YouTube Shorts has hit 5 trillion all-time views, which is a less interesting metric than how many creators it’s managed to onboard — a number it did not share.

Earth” and “Mars” by Grimes

Final price: $5.18 million

For $7500 each, Grimes sold nearly 700 copies of the NFT videos “Earth” and “Mars,” making $5.18 million from both short videos within 48 hours.

3. Auction Winner Picks the Name by 3LAU

Final price: $1.3 million

American DJ and EDM producer, 3LAU, auctioned off an NFT music video on Nifty Gateway before it’s even been created. The sale included the opportunity to name the music video itself.
Sold for $1,330,000 to the CEO of T-Mobile, John Legere, his daughter, Christina Legere, will be the one naming the music video once it’s ready to be released.

4.

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,” the letter reads.

Wojcicki said YouTube looks to the Web3 ecosystem “as a source of inspiration,” referring specifically to opportunities in the crypto space such as decentralized autonomous organizations (DAOs) and NFTs. The mention of NFTs was part of Wojcicki’s recent letter to the YouTube community about the company’s plans to invest in areas like gaming and shopping and how it plans to support creators.

The site, like other social media, has also been plagued by scams promising crypto riches.

Web3 backers often hold up NFTs and other crypto-fueled projects as better alternatives for creators to make money than ad platforms like YouTube and Instagram, which control distribution of their content and how they’re paid. But the market is still nascent and volatile. In the past week, the main cryptocurrency used for purchasing and trading NFTs has plunged in value.

In her letter, Wojcicki also mentioned YouTube’s priorities on gaming, shopping, music and Shorts, its TikTok copycat feature. Shorts, the CEO wrote, has claimed over 5 trillion video views since its debut in late 2020.

This story has been published from a wire agency feed without modifications to the text.

YouTube to explore NFT features for video creators

  • YouTube is looking into introducing non-fungible token features for its video creators
  • The reference to NFTs was part of Wojcicki’s recent letter to the YouTube community
  • Other companies like Twitter have already introduced NFT features

Social media platform YouTube is looking into introducing NFTs for its video creators, Chief Executive Officer Susan Wojcicki wrote to the site’s broadcasters on Tuesday.

YouTube is looking into NFTs

YouTube CEO Susan Wojcicki hinted that the company will consider NFTs as another source of revenue for video producers in the future.

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