Traditional Platforms Deciding to Implement NFTs

Soon, even those who do not understand cryptocurrencies at all and are not interested in this market will encounter it on familiar platforms and social networks. The popularity of NFT is growing every day, so they want to introduce it to YouTube and Instagram.

NFT conquers the digital world

Non-fungible tokens are no longer just pixelated pictures for a limited circle of people. More and more companies are thinking that it is quite possible to use them for different tasks. This is not surprising, because NFT is:

● Confirmation of authorship. No falsifications and fakes in the blockchain.
● Additional profit. For NFT creators, the opportunity to receive royalties on each resale.
● Audience expansion. Tokens have no boundaries.

Content creators across platforms often find themselves unable to monetize their work. Therefore, social networks are also thinking about how to help them earn money, including with the help of the latest technologies.

Platform plans

So far, the introduction of NFT tokens is at the announcement stage. Perhaps the platforms are making some steps for this, but there is no exact answer to “when it will be”.

At the beginning of 2022, it became known that the popular video hosting YouTube plans to use all available ways to generate a profit using the latest technologies, including NFT. This will help creators monetize their content, further interact with the audience, and strengthen connections. The head of the company does not disclose details.

For YouTube, NFT is an opportunity to generate additional profit, enter new markets, and develop its metaverse. Tokens are planned to be used to provide users with unique photos, videos, and works of art.

Instagram and Meta also have far-reaching plans. In July 2021, the creation of its metaverse was announced. And already in the winter of 2022, the CEO announced that NFT would soon appear on Instagram. How this is planned to be done is not reported.

But there is evidence that testing of cash bonuses for authors who create content in Reels is being carried out with might and main. And NFT is great for monetizing work.

Statements from large companies and social networks on the introduction of tokens suggest that this area will not disappear in an instant. Since they want to implement them on platforms, it means that the audience's interest in NFTs is constantly growing. And you can’t just stay away so as not to lose users. After all, if the giants of the market do not do this, then some new company or social network will quickly take its place in the market.

NFTs and the Metaverses

These are new platforms, but hundreds of thousands of people around the world are already actively using them. If a company does not have plans to create its metaverse and does not have its social network, then they are actively being introduced to those projects that already exist. For example, large brands have already become interested in Decentraland, Coca-Cola, NASA, and Playboy.

Auction house Sotheby's generally began the construction of a virtual gallery. Domino in the UK allows users to order pizza directly from this metaverse. And the high-profile purchase of a plot of land by a large company Republic Realm for 913 thousand dollars for the construction of a shopping center is another step toward the digitalization of life.

NFT is not going to slow down. Since major brands and companies, platforms, and social networks are going to introduce tokens, we should expect further market growth.