YouTube May Branch into NFTs, CEO Suggests

It would be the company’s first foray into non-fungible tokens.

YouTube may incorporate non-fungible tokens onto its platform in the future, the video hosting platform’s CEO Susan Wojcicki said in a letter on Tuesday. 

“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,” Wojcicki said.

Wojcicki said that Web3 has been “a source of inspiration” for YouTube, adding that NFTs and decentralized autonomous organizations (DAO) have the “unimaginable opportunity to grow the connection between creators and their fans.” 

NFTs could be another form of revenue for YouTube’s creators, the CEO said. She did not, however, provide additional details or specify a timeline. 

The letter follows closely on the heels of Twitter’s announcement of supporting verified NFT profile pictures. Users of the company’s Twitter Blue subscription service can link ether-based wallets to their account and display their NFTs as profile pictures. 

Shares of YouTube’s parent company Alphabet Inc. were trading 1.84% lower at $2,567.99 at the time of publication.