Video-sharing giant YouTube says it’s ready to embrace this sector of the crypto market

A senior YouTube executive reveals the video-sharing giant’s plans to adopt elements of Web3 into its platform.

In a new corporate blog, YouTube CEO Susan Wojcicki says non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) are areas of focus for the flagship video-sharing website.

“We look further into the future and follow everything that happens on Web3 as inspiration to continue innovating on YouTube.

Last year in the world of crypto, non-fungible tokens (NFTs) and even decentralized autonomous organizations (DAOs) highlighted a previously unimaginable opportunity to grow the connection between creators and their fans.

We are still focused on expanding the YouTube ecosystem to help creators take advantage of emerging technologies, including things like NFTs, while continuing to strengthen and improve creator and fan experiences on YouTube. . »

Moving into the NFT space, the video hosting giant would follow in the footsteps of other social media giants such as Twitter and Reddit, both of which recently launched test versions of a feature that lets users set NFTs as profile pictures.

Wojcicki’s announcement follows YouTube parent company Google’s creation of a unit dedicated to researching blockchains and other technologies focused on crypto assets.

This isn’t Google’s first venture into the world of crypto, having teamed up with top US-based crypto exchange Coinbase and payments provider BitPay to load cryptocurrencies onto cryptocurrencies. digital cards while charging users in fiat currency.

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Shirley K. Rosa