New NFT Utility Platform Launches to Compete for 60M Twitch, YouTube Creators

Amid the ongoing surge in the so-called 'creator economy' which allows creators to monetize their work in new ways, non-fungible token (NFT) platform PlayNFT is launching a new marketplace to allow Twitch streamers and YouTube creators to roll out branded NFTs with in-game utility intended for their communities, per a press release shared with Cryptonews.com. 

Backed by more than USD 300,000 in grants from a number of crypto industry players, which include XRP Ledger, Velas, Near, and Stacks, the development could provide the new platform with access to the rising pool of online creators, comprising Twitch’s 9.2m streamers and YouTube’s 51m content creators, PlayNFT said in a statement. 

In the third quarter of this year, support for TikTok creators is also to be added.

The cross-chain platform aims to integrate a wide range of blockchains, including Ethereum (ETH), Polygon (MATIC), Solana (SOL), and others, enabling the supply of NFTs to be minted and shared across many chains, according to the statement.

“PlayNFT will empower creators to meaningfully engage their audiences and infuse their NFTs with utility and value in a collaborative, accessible way,” said Xavier Moore, CEO of PlayNFT, adding that “NFTs are a game changer for attaching real value to content.”

The statement says that more than 260 streamers have already signed up to use PlayNFT. Each creator is to be provided with their own storefront where their communities will be enabled to buy branded NFTs.

“They will also be able to add utility to the NFTs via games such as Min-Mins and Shield of Shalwend, while game developers can integrate PlayNFT’s tools and attach in-game utility to NFTs on any connected blockchain,” according to the statement.