YouTube is looking at NFT integrations to provide new methods for creators to engage with fans and develop additional revenue streams
The announcement comes just weeks after YouTube CEO Susan Wojcicki suggested that the platform may utilize Web3 “as a source of inspiration” for expansion and may eventually implement NFTs. Neal Mohan, YouTube’s chief product officer, stated in a blog post that the network is experimenting with non-fungible tokens (NFT) by including them into its creative tools. This enables content producers to sell their movies as non-transferable tokens (NFTs) to viewers who will then be able to ‘possess’ them.
Neal Mohan informed: “We believe new technologies like blockchain and NFT 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. For example, giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect for creators and their audiences.”
Mohan also alluded to the current term – “Metaverse” – by stating that viewers may anticipate new ways to enjoy material through virtual reality. The YouTube executive said that the startup will begin with gaming, but provided no other specifics at this time.
“Finally, we couldn’t have a piece on innovation without broaching the Metaverse! We think big about how to make viewing more immersive. The first area where you can expect an impact is gaming, where we will work to bring more interactions into games and make them feel more alive.” “It’s still early days, but we’re excited to see how we can turn these virtual worlds into a reality for viewers,” he added.
