YouTube CEO in a letter to the community shares the plans to bring NFT features to the content sharing platform that is YouTube. In the coming time, YouTube might be expanding its ecosystem to help creators capitalize on emerging technologies, including things like non-fungible tokens or NFTs. In other words, YouTube might introduce NFTs as a source of revenue for creators and ultimately YouTube itself.
Till now, NFT features on social media platforms are inclined to simply displaying the NFT as a prized possession of a person. If you have a Bored Ape Yacht Club NFT, for instance, you can use it as your profile picture across your social media handles to show off your valuable digital asset.
There are few to none methods for an NFT creator or owner to actually make money off it through social media. The only value exchange happens through NFT marketplaces where one can simply buy or sell NFTs. YouTube’s take on this may help bring in a new way of revenue generation through NFTs. YouTube would introduce new features for game streamers. “We’ve seen incredible strides in the evolution of gaming on YouTube, from immersive storytelling to the world’s biggest esports finding a home on our platform. In the first half of 2021 alone, YouTube saw over 800 billion gaming-related views, over 90 million hours live-streamed, and over 250 million uploads.”