In her latest letter, Susan Wojcicki briefly summarized the past year and referred to YouTube’s priorities for 2022. Among them was the NFT sector. What does this mean for the market?
NFT at the forefront of change
The CEO of YouTube, pointed out how many elements connect the content creator with his audience. She pointed out how the platform has evolved over the years and the multitude of ways YouTube authors can currently make money. After a brief introduction illustrating the above facts, she pointed out the direction the platform is going to take this year. Surprisingly, very high on the list was the NFT segment.
To quote Susan Wojcicki’s words:
” We are also looking ahead and keeping an eye on everything that is happening in Web3 to get inspiration for further innovations in YouTube. The past year in the world of cryptocurrencies, non-transferable tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted previously unimaginable opportunities to grow the connection between creators and their fans. Our focus is always on expanding the YouTube ecosystem to help creators take advantage of new technologies, including those like NFT, while continuing to strengthen and improve the creator and fan experience on YouTube.”
This is great news, considering that youtube.com is the second most expensive web domain in the world, and with over 400 million daily unique users.
A good sign not only for the NFT market but for crypto as a whole
It is not yet clear exactly how Susan Wojcicki plans to implement the NFT segment into the platform’s operations, but following her words, one can guess that it will bring together creators and their fans. Expect to see incentives for creators to crank out their own works in the form of NFT and distribute them later. In this way, YouTube plans to move with the times and at the same time deepen the bonds between the creators and their audiences, perhaps giving them another area for potential earnings.
There are other words between the lines, which are in turn a nod to the cryptocurrency market itself, which YouTube has not always had its way with. Paying attention to Web3, DAO, or the crypto market in general points to a potentially less restrictive approach to the content created in this segment. Many crypto-youtubers have experienced complete, or temporary, banning of their account. Therefore, one can assume that YouTube’s policy towards them will become more friendly.