According to the CEO, YouTube is venturing into NFTs and will soon offer NFT-related features.

YouTube, the Google-owned video streaming platform, is exploring the possibility of offering non-fungible token (NFT)-based features to creators. YouTube CEO Susan Wojcicki revealed that YouTube is considering venturing into NFTs, but she didn’t say what the team is planning or when these “features” are expected to appear on YouTube. However, this is the first time that Google has become involved in ENFs, which are currently heavily advertised on the Internet. This announcement comes shortly after Twitter announced NFT-based profile pictures for users who own non-fungible tokens.

Wojcicki, quoted by Bloomberg, said in an email to YouTube creators that the company is building the YouTube ecosystem to help creators take advantage of emerging technologies, including things like NFTs, while continuing to strengthen and improve the experiences of creators and their fans on YouTube. This comes at a time when many YouTube creators are venturing into NFTs and making videos and tutorials on crypto and related technologies.

ALSO READ: NFTs explained: what is this digital asset that makes so many people millionaires?

In her letter, the YouTube CEO also indicated that the company’s priorities are games, shopping, music and Shorts – the short video format similar to TikTok and Instagram’s Reels. Wojcicki said that since its launch in 2020, the shorts have claimed over 5 trillion views on YouTube.

NFTs are digital assets that are stored on a blockchain. ENFs can be anything – an image, video, graphic, icon, or even a single pixel or piece of text. The non-fungible in Non-fungible tokens means that the object is unique and only one copy exists. Currently, NFTs are all the rage on the internet, with people spending millions of dollars on digital art or a graphic that will give them some utility or value over time.

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