In a letter published by YouTube’s CEO, Susan Wojcicki, the executive suggested that the company is looking to branch into NFTs as another source of revenue for creators. The letter reads; “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.”
Youtube is exploring opportunities into NFTs, DAOs, and crypto
The letter further details YouTube’s plans to invest in gaming and shopping. Wojcicki noted that YouTube is exploring Web3 as a source of inspiration – including opportunities in crypto, decentralized autonomous organizations (DAOs), and NFTs. However, YouTube did not provide additional details on what NFT features could look like.
It’s not surprising to see YouTube considering a move into the NFT space, as other social media platforms are now doing the same. Although, NFTs aren’t the only new monetization opportunities YouTube is looking at in the coming year. Wojcicki also said that the company is excited about podcasts that are expected to be an integral part of the creator economy. The video streaming platform is also expanding its shopping features to more creators, and testing how shopping can be integrated into Shorts.
YouTube dislike button
The letter also talked about the controversy surrounding YouTube’s decision to remove public dislike counts from its platform. The CEO noted that the dislikes were often used to target smaller creators for harassment and that the feature could still be used to inform individuals’ recommendations. The statement reads; “Every way we looked at it, we did not see a meaningful difference in viewership, regardless of whether or not there was a public dislike count, and importantly, it reduced dislike attacks.”
Source: Tech Crunch