YouTube Exploring NFTs – The Creator Economy
With web2 quickly embracing web3 and NFTs, the sprint is on to integrate into the new technology as quickly as possible. facebook changing its name to meta (and announcing over and over that they will have NFTs on instagram). Twitter quickly added verified NFTs as PFPs with wallet connections, now YouTube CEO Susan Wojcicki announced that they are considering adding NFTs to allow creators to connect in a myriad of ways with fans.
Obviously being able to change your logo or icon of your channel to your PFP will have tremendous “social proof” value for creators. Outside of that the possibilities are endless. YouTube could add POAPs for watching livestreams, create shared viewing experiences in the metaverse and more.
“We’re seeing lots of interesting applications, such as NFTs being used to help manage a community of common interests; enabling better crowdfunding for creators; helping artists mint and sell their own work in a verifiable way that also earns them a rev share for future sales”
We’re also looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube. The past year in the world of crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans. 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 creator economy is real. the shift from corporate owned to creator owned is gaining massive momentum. From art to streaming and other areas of decentralization, we’re on a rocket. buckle up.
