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YouTube might be the next social media site gearing up to integrate NFTs into its platform. The video-sharing giant has shown plenty of intentions of integrating an NFT marketplace for creators.
Youtube CEO on why they will integrate NFTs pic.twitter.com/eo9W8mTHnQ
— Blockworks (@Blockworks_) May 26, 2022
YouTube’s CEO, Susan Wojcicki, has mentioned on several occasions how NFTs would be the next step in expanding YouTube’s ecosystem. Earlier this year, Wojcicki released a letter addressing the YouTube community talking about NFT integration.
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.
Afterward, Wojcicki appeared on Ludwig’s podcast “The Yard,” wherein in a segment, she talked again about NFTs. Wojcicki admitted that she herself owned NFTs, and could see the potential the technology could bring to the platform. “It’s a form of monetization and we want to provide the best monetization for all creators,” Wojcicki said.
Additionally, Wojcicki brought up the point of blockchain technology preventing the theft of videos and content. “We are also in the best position to verify which assets actually belong to which creators (…) we want to be there to support you and make sure that your content isn’t being basically stolen and sold somewhere else,” Wojcicki added.
YouTube is the latest social media platform considering NFT integration. In the past few months, other social media giants such as Spotify and Instagram have all announced their foray into NFTs.