YouTube is looking to add NFT integration
NFTs remain a contentious topic, despite all the signs for increased adoption. While the climate-related concerns are currently still valid, these should be addressed as Ethereum transitions to a proof-of-stake consensus that is mostly carbon-neutral. There is also the issue with price manipulation, plus all the copy-paste image memes, but not too many realize that NFTs can be used to offer access and benefits within distinct communities, not to mention that the concept can be expanded to music, security and identity. The community building aspect seems to have caught YouTube’s eye, as CEO Susan Wojcicki recently expressed the platform’s interest in exploring the integration of NFTs and other Web3 technologies in a letter addressed to content creators.
"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," said Wojcicki. "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."
No details on the potential NFT implementation for YouTube for now, but we can expect a roadmap in the coming months. What YouTube could do is allow content creators to issue their own NFTs and sell them to their audiences as an improved monetization model for the “Join” feature. These NFTs do not really need to have fancy unique art, they just need to move accountability to the block chain, opening possibilities of establishing decentralized autonomous organizations (DAOs) for each content creator community.