YouTube is exploring options for its video creators to capitalise on non-fungible tokens, its chief govt officer mentioned on Tuesday, turning into the most recent tech firm to faucet right into a digital collectibles craze that has exploded prior to now yr.

“We’re always focused on expanding the YouTube ecosystem to help creators capitalise on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube,” wrote YouTube CEO Susan Wojcicki in a letter on the corporate’s 2022 priorities.

NFTs are a sort of digital asset which exist on the record-keeping expertise blockchain. They have seen a surge in recognition during the last yr, with individuals shopping for paintings and video highlights from sports activities video games as NFTs.

Sales of NFTs reached some $25 billion (roughly Rs. 1,88,030 crore) in 2021, in line with knowledge from market tracker DappRadar, though there have been indicators of development slowing towards the top of the yr.

A spokesperson for Alphabet’s YouTube declined to share extra particulars concerning the potential NFT options, which have been first reported by Bloomberg News.

Last week, Twitter introduced the launch of a software via which customers can showcase NFTs as hexagonal profile photos. The standard brief video app TikTok in September ventured into the craze, asserting an NFT assortment designed by a few of its prime creators.

Reddit Inc has additionally been exploring the area: current job listings from the corporate on LinkedIn marketed for a number of engineer roles for a “rapidly growing team that aims to build the largest creator economy on the Internet, powered by independent creators, digital goods, and NFTs.”

© Thomson Reuters 2022

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