Trend iCityTrend iCity
  • Home
  • Gadget
    • Smartphone
    • Smartwatch
  • Computer
    • Router
    • Mouse
  • Gaming
  • Apps
  • Tips
    • Instagram
    • WhatsApp
  • News
Facebook Twitter Instagram
Trend iCityTrend iCity
  • Home
  • Gadget
    • Smartphone
    • Smartwatch
  • Computer
    • Router
    • Mouse
  • Gaming
  • Apps
  • Tips
    • Instagram
    • WhatsApp
  • News
Trend iCityTrend iCity
You are at:Home»News»YouTube is interested in NFT

YouTube is interested in NFT

YouTube wants to get into NFTs
3 Mins Read News
Share
Facebook Twitter Pinterest WhatsApp Email
YouTube is interested in NFT
Photo Credit : istockphoto.com

NFT (Non-Fungible Token) has become an increasingly popular topic in recent months, particularly in light of the shocking news of A young Indonesian guy called Ghozali who unexpectedly became wealthy after selling selfies of himself as an NFT for five years.

Ghozali is making waves when he sold a selfie for 3.1 trillion Indonesian rupiahs ($216 million) as a nonfungible token auction (NFT). This particular photograph, named “Ghozali Ghozalu #528,” is part of a larger collection of 933 selfies that he took every day from 2017 to 2021 and has a ceiling price of $1 million. It is called Ghozali Everyday and can be bought at the NFT marketplace OpenSea.

In the beginning, every picture in the collection was available for purchase for a floor price of 0.0001 ETH (Ethereum), which is about Rp 48,000. The price, on the other hand, has been steadily increasing, and the cheapest photo from the collection is currently valued at 0.3 ETH, or around Rp 14.3 million.

Numerous significant platforms and brands have expressed an interest in entering the NFT business, and YouTube appears to be one of the parties keen on being able to enter the NFT market as soon as feasible in 2022.

This is not surprising, as we have seen the emergence of cryptocurrencies and blockchain technology that provide a solid foundation for the implementation of NFTs.

A letter to artists from YouTube CEO Susan Wojicki, written in 2022, verified this, in which she noted that the company is studying ways for creators to benefit from the digital collectible that has become popular in the digital age.

In the same letter, Wojicki extended his gratitude to Web3 for serving as a source of inspiration for the YouTube organization. He did not explicitly state that YouTube would enter the NFT market directly; nonetheless, his party made it apparent that this new technology may give content providers an additional source of revenue.

“The past year in the crypto world, NFTs, and even decentralized autonomous organizations (DAOs) have highlighted previously unimaginable opportunities to cultivate relationships between creators and their fans” he says. In order to aid creators in making use of emerging technologies, such as NFT, we’ve always been focused on growing the YouTube ecosystem. We’ve also worked hard to deepen and enhance the experience that both creators and fans have on YouTube.

YouTube is not the only one that is interested in getting into NFT. Recently, Twitter has just introduced the NFT feature on profile pictures for Twitter Blue users, will allow them to use the NFT feature on their profile photographs in the future. Facebook and Instagram, on the other hand, are looking into ways to make better use of NFT technology on their own platforms in order to increase efficiency.

And in the same way that ERC-721s are tokens, could NFTs be the next step in blockchain gaming? I’ve been researching this a lot lately, and I think it’s pretty much a given that there will be more and more games that use NFTs.

The biggest challenge for NFTs right now is the lack of infrastructure to support them. Scarcity, as a concept, is a core part of the NFT system and it’s difficult to have scarcity when you have too many transactions.

What are your thoughts on the matter? So, what exactly is it that YouTube is planning to give in the near future that is similar to NFT?

 

Source : Engadget

NFTs Non-Fungible Token YouTube
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleHow to Know Who Viewed my Instagram Profile Without Additional Apps
Next Article The Next Windows 11 Update will introduce support for Android Apps
Carl Windley
  • Website

Related Posts

How to Install The iOS 16 Beta on Your iPhone and iPad

News Gadget SmartPhone

Apple’s iOS 16 Updates and All the New Features

News

The Next Windows 11 Update will introduce support for Android Apps

News

SAMSUNG GALAXY Tab S8 Lineup Full Specifications Appears on Amazon Italy

News

LENOVO 10W Tablet with Snapdragon 7c and LENOVO 13W YOGA with AMD Ryzen 5000-U aimed at students

News

Google Play Games Officially Available on PC

News
Add A Comment

Leave A Reply Cancel Reply

6 BEST Online PDF Compressor Free To Reduce PDF File Size

Apps Tips

PDF files are a great way to share documents with your friends and colleagues because…

8.8

Fitbit Charge 5 Review: Smartwatch with a lot of Exciting Features

How to Install The iOS 16 Beta on Your iPhone and iPad

Apple’s iOS 16 Updates and All the New Features

How to Clear iPhone Cache and History

6 Best Metaverse Games to Play in 2022

17 Best Free Wallpaper Apps for Android in 2022

Trend iCity
  • About Us
  • DMCA
  • Privacy Policy
  • Anti Spam Policy
  • Cookie Policy
  • Terms of Use
  • Contact Us
© 2022 Trend iCity - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.

Go to mobile version