One of the hot news related to the social network YouTube is the introduction of NFT technology to this social platform, which was made public following a letter from one of the YouTube executives, Susan Vujicic. The senior executive has proposed that YouTube is going to use 3.0 technologies, namely non-fungible tokens (NFTs).
How YouTube entered the NFT space
In the past year, NFTs and decentralized organizations (DAOs) have created different and, of course, breakthrough tricks for connecting content creators and the users who follow them. Susan Wojcicki says: “We are always looking to develop the YouTube ecosystem and our main goal is to help creators better serve their audiences, and that is why we decided to bring NFTs to YouTube to better connect creators and their audiences.”
How does NFT get on YouTube?
YouTube has plans in place, most notably a number of different ways for content creators to showcase their NFTs. The massive social network has designed a product shelf option that sits below users’ videos to better showcase their videos. This feature supports products such as apparel, collectibles, and more from a growing number of retail companies.
Following YouTube's collaboration with NFT technology, it is expected that a cryptocurrency wallet will be another service available to content producers on the YouTube social channel.
