YouTube is planning to utilize NFTs, and the metaverse to create more opportunities for content creators and viewers.
In a blog post about YouTube’s plans, new tools, features, and products for 2022, Chief Product Officer Neal Mohan believes that “new technologies like blockchain and NFTs” will allow content creators and their fans to collaborate and “make money in ways not previously possible.”
To achieve this, Mohan said YouTube might integrate a feature that will allow fans “to own unique videos, photos, art, and even experiences from their favorite creators.” If this feature is introduced, it means that creators will be able to mint their content and sell them to fans who will, in turn, be able to sell it to others.
“There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well,” he added.
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Mohan also acknowledged the fast-rising virtual world, the metaverse, stating that YouTube is “thinking big about how to make viewing more immersive,” especially in gaming, which is the main focus for now.
“The first area in which you can expect to see an impact is gaming, where we’ll work to bring more interactions to 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 said.
The online video sharing platform had earlier hinted about NFT integration plans. YouTube CEO Susan Wojcicki, in a letter, said that it is planning on expanding its ecosystem by ecosystem by integrating NFTs to enhance creators’ and fans’ experiences on the platform.