Youtube has hinted at plans to integrate non-fungible tokens for its video creators in its first major step into the sector.
The firm’s CEO, Susan Wojcicki, announced to content creators that the platform was shifting focus to web3 to give creators more opportunities in the emerging space.
Wojcicki also notes that priorities remain around gaming, music and Shorts, and e-commerce. She adds that Shorts has managed more than 5 trillion views since launching in 2020.
Web 3 enthusiasts view NFTs as an ideal alternative for earning better pay than the advertisement platforms like Instagram and YouTube.
Many YouTubers have continued to expand their business with content that promotes cryptocurrencies, despite rising cases of scammers.
Twitter Inc. recently allowed users to post NFTs on their account profile, while Instagram promotes its offering for the collectibles.