YouTube is reportedly considering a new feature for video creators on its platform so that they can be used as Non-Fungible Tokens (NFT) which have recently become popular.
This was conveyed by YouTube CEO Susan Wojcicki as reported by Reuters, Wednesday (27/1/2022). Susan also claims that YouTube will be a technology company that uses NFT as part of its service ecosystem.
“We’ve always focused on expanding the YouTube ecosystem to help creators take advantage of new technologies, including things like NFT while continuing to strengthen and improve the experience for creators and fans on YouTube,” said the CEO.
An NFT is a digital asset that exists on blockchain technology, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the NFT’s authenticity and who owns it. In the last two years NFT has grown in vogue and has become more and more popular in the last year.
Many investors, especially young people, buy works of art to videos that have been in the form of NFTs and have now become equivalent as investment assets. Throughout 2021, NFT sales turned out to have reached US$25 billion or equivalent to N10.3 trillion naira in a short time.