Video-Sharing Giant YouTube Says Its Ready To Embrace This Sector of the Crypto Market

A top executive at YouTube is unveiling the video-sharing giant’s plans to adopt elements of Web3 into its platform.

In a new company blog post, YouTube CEO Susan Wojcicki says that non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) are areas of strong interest to the flagship video-sharing website.

“We’re looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube.

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

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.”

By moving into the NFT space, the video-hosting behemoth would be following in the footsteps of other social media giants such as Twitter and Reddit, which both recently launched test versions of a feature that lets users set NFTs as their profile pictures.

Wojcicki’s announcement comes on the heels of YouTube’s parent company Google forming a unit dedicated to researching blockchains and other technologies centered around crypto assets.

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

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The post Video-Sharing Giant YouTube Says Its Ready To Embrace This Sector of the Crypto Market appeared first on The Daily Hodl.

Source: https://dailyhodl.com/2022/01/28/video-sharing-giant-youtube-says-its-ready-to-embrace-this-sector-of-the-crypto-market/