YouTube wants to sell you viral videos as it jumps on NFT bandwagon

YOUTUBE looks set to jump on the NFT bandwagon.

The CEO of the video platform recently revealed to YouTube creators that they could soon benefit from the digital tokens.

SOPA Images/LightRocket via GettSome YouTube videos are already NFTs[/caption]

NFTs, or non-fungible tokens, are becoming increasingly popular.

Bitcoin has helped create a new world of digital currencies and now attention is turning to the new trend of NFTs.

Cryptocurrencies are really collections of computer code but coins such as Bitcoin or Dogecoin have recognisable logos.

An NFT provides something different as it digitises a piece of work such as art or music and turns it into a non-fungible token that is stored on the blockchain.

That means it cannot be replicated and is unique to whoever owns it.

In the case of YouTube, a viral video could be turned into an NFT for an individual to own.

YouTube CEO Susan Wojcicki wrote about NFTs in a recent letter to video creators.

She said: “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”.

The letter also reveals plans for YouTube to invest in gaming and shopping.

Wojcicki didn’t explain how NFTs would fit into the platform.

She did suggest it could work as a source of revenue for creators.

Some famous YouTube videos have already been turned into NFTs.

The classic “Charlie Bit My Finger” video sold as an NFT last year.

It was bought for a staggering $760,999 (£565,308).

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