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.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Black Digital Cat