YouTube is making inroads into the worlds of NFTs, Metaverse, and Web3
YouTube wishes to connect artists with their audiences “on a deeper level,” as well as to adapt to the appearing world of “Web3 and its elements.”
YouTube has announced its intention to enter the world of Non-fungible-tokens (NFTs), a metaverse powered by web3 and Blockchain. According to Neil Mohan, YouTube’s Chief Product Officer, in a blog post published on February 10, the platform need to connect artists with their audiences “on a deeper level” also adapt to the emerging world of “Web3 also its elements.”
Mohan stated in the blog post that YouTube wants to “provide a verifiable way for fans to own unique videos, photos, art, or even experiences from their favorite creators” through NFTs. NFTs are digital assets that can’t be changed or modified also are recorded on a distributed database known as Blockchain.
An NFT can be created from art, music, GIFs, videos, or even selfies.
YouTube may integrate NFTs so that NFT collectors gain exclusive access to a creator’s content or earn special NFT badges during live streams. This will provide creators with additional monetization options. More information on YouTube’s NFT plan, on the other hand, is awaited.
When asked about integrating Metaverse into YouTube. Mohan suggested that one option allows users to watch videos together in a metaverse. For the time being, Metaverse on YouTube will focus on videos about “gaming. Where “we will work to bring more interactions to games or make them feel more alive,” according to the blog. The Metaverse is the upcoming appearing of the internet, allowing users to create virtual lives. Share spaces, transact, and collaborate in novel ways.
Mohan also stated that he intends to take a cautious approach to any Web3 integrations. “There’s a lot to think about in making sure we approach these new technologies responsibly. But we also believe there’s incredible potential,” he wrote in the post.
