YouTube looking for adding NFT and blockchain integrations


On 10th
February, YouTube’s Chief Product Officer Neal Mohan
published a blog post consisting of a long list that highlights the company’s upcoming plans for new products and
features in 2022 for YouTube creators. It shows an inclination towards Web3 tech, blockchain, NFTs, and the Metaverse. NFTs integrations will enable new ways for
creators to build a deeper relationship with fans and develop further ways to monetize
their Youtube content.
As per
Mohan, YouTube is actively looking for new methods that will give additional
support and options to its two million partnered creators after receiving
feedback from the community. Mohan highlights Web3 tech such as NFTs as a
potential solution for the struggle that creators undergo to find the right content
ideas that will be successful on the platform. The creators can utilize NFT
tech by tokenizing their videos, or segments of videos, photos, art, and
experiences as a way to engage with fans. In the blog post, Mohan mentioned
some of the new features for the creators like “Channel Guidelines,” sorted
comments for live streams, and Super Chats (tips) for YouTube Shorts (which are
YouTube’s version of TikToks).
“Web3
also opens up new opportunities for creators. We believe new technologies like
blockchain and NFTs can allow creators to build deeper relationships with their
fans. Together, they’ll be able to collaborate on new projects and make money
in ways not previously possible.”
Last
month YouTube chief executive officer CEO Susan
Wojcicki showed an interest that the platform can use Web3 “as a source of inspiration”
for growth and mostly will adopt NFTs on the website. To
expand the YouTube ecosystem, she said "things like NFTs" can be
added.
Similarly,
Ryan Wyatt, the former head of YouTube Gaming, is optimistic about Web3. Wyatt left YouTube in January to join Polygon
Studios, an Ethereum sidechain company.
Blockchain
networks, including Ethereum, use digital tokens called NFTs to verify
ownership of assets. In
most cases, NFTs refer to images, videos, pieces of music, or even virtual
land.

Indrani bose
CBW - External Analyst
INDIA