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YouTube Plans to Integrate NFTs into the Creator Tools

Last Thursday, Neal Mohan, YouTube’s Chief Product Officer, announced on a blog post a series of improvements that will be landing on YouTube in 2022. 

Most of these new features come from the hand of Web3, a term used to describe the interaction between the World Wide Web and blockchain technology, where Non-Fungible Tokens play a big part. 

The mission behind these innovations is to make the platform an ideal space for both content creators and content consumers. A universe in which creators can grow and build deep relationships with their fans.  

As Neal stated in a recent podcast, “everything that we do at YouTube is really to just make sure that our platform remains the best place for creators and viewers.” He continued to say, “everything at YouTube starts with our creators, that’s why viewers come to the platform every single day and we want to make sure that we can fulfill the most ambitious goals that creators have.”

He also briefly touched on the concept of the metaverse, an immersive experience where gamers, shoppers, artists, and influencers, in general, can share and sell all kinds of content from video snippets, gifts, and thumbnails in the form of NFTs. On this metaverse, the $500 billion dollar company expects to be able to introduce more interactions to the creators’ content, so as to make it feel more alive for their viewers.  

At the moment, YouTube has over 120 million viewers every day. With this number in mind, Mohan expressed YouTube’s effort to understand consumer demand, saying that they are on their way to creating a new tool that will, “harness YouTube and Google’s data sets and allow creators to better understand viewer demand, helping generate concrete content ideas for upcoming videos.”

Finally, he went on to state his view of how NFTs would benefit both content creators and viewers alike: 

“We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans,” Mohan stated. “Together, they’ll be able to collaborate on new projects and make money in ways not previously possible.”

“The new tools will give a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite YouTubers,” he wrote.

Neal Mohan did not announce a precise date for these new launches, many of them will be happening this year. For the metaverse expansion, he remained hopeful while realistic that it would take some time.

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