YouTube may incorporate non-fungible tokens onto its platform in the future, the video hosting platform’s CEO Susan Wojcicki said in a letter on Tuesday.
“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,” Wojcicki said.
Wojcicki said that Web3 has been “a source of inspiration” for YouTube, adding that NFTs and decentralized autonomous organizations (DAO) have the “unimaginable opportunity to grow the connection between creators and their fans.”
Colin Fitzpatrick, founder and CEO of Animal Concerts, a startup focused on virtual concerts in the metaverse, described the possible NFT integration as “a great way for creators to monetize their channels without needing to rely on advertising revenue.”
“If YouTube is going to facilitate NFTs on their platform, it is possible that demonetizing content creators is something they are forced into by their advertising partners,” Fitzpatrick told Blockworks. “Introducing NFTs could be a way for them to circumvent corporate interests and give their users alternative methods to generate revenue.”