YouTube NFTs may be in the works. In a letter published today, YouTube CEO Susan Wojcicki suggested the company is looking to branch into NFTs in the future as another source of revenue for creators.
“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,” the letter reads.
The detail was part of Wojcicki’s latest letter to the YouTube community, which outlines areas the company plans to invest in, like gaming and shopping, and how it plans to support creators. Wojcicki said YouTube is looking to Web3 “as a source of inspiration,” specifically noting the opportunities with crypto, decentralized autonomous organizations (DAOs), and NFTs.
YouTube’s hints at possible NFTs are in line with other platforms that have recently rolled out their own versions or are rumored to be considering an NFT feature. Twitter now offers a way for users who own a special JPEG to “show off your prized possessions” via a hexagonal profile picture. Meta, which owns Facebook and Instagram, is said to be preparing something similar where users can display the tokens they own. A marketplace for NFTs is also reportedly in the works.
YouTube did not provide additional details on what NFT features could look like at the company.
Creators of a few viral YouTube videos have already made them into NFTs and sold them on their own. The Charlie Bit Me NFT, depicting a baby biting his brother’s finger, was auctioned off last year, selling for $761,000. David After Dentist, a video of a disoriented child post-anesthesia, was sold as an NFT for over $11,000.