The latest big name in social media to embrace the burgeoning nonfungible token (NFT) sector is Reddit as it follows in the wake of YouTube and Twitter.
Video streaming giant YouTube has also dipped a toe into the NFT pool with an announcement this week that it will be
for content creators. In an open letter on Jan. 25, YouTube CEO Susan Wojcicki said that the firm was “focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs,”Despite the 25% crypto market slump so far this year, NFTs are gaining momentum. Industry analytics platform Nonfungible isthat there has been $608 million in weekly secondary sales. The figure is double that for the last week in December.
The flavor of the week in terms of NFT collections is Azuki, with $105 million in seven-day sales volume, according to Cryptoslam.