https://ift.tt/cXI6uri Plans to Monetize Creators Content With NFTs

• Mohan says he wants to take a deliberate approach regarding Web3 integration.
• A new monetization option for content providers might be to sell videos as NFTs.

Neal Mohan, Chief Product Officer, posted a blog post detailing YouTube’s plans for new products and services in 2022, highlighting the company’s interest in the Web3, blockchain, and NFTs.

There are digital tokens known as NFTs that may be used to prove the ownership of an item on a blockchain network like Ethereum. In most cases, NFTs refer to owning a specific media piece, such as a photograph, video, or song. According to Mohan’s article, ‘Channel Guidelines,’ sorted comments for live streams, and Super Chats (tips) for YouTube Shorts (like TikToks on YouTube) are some of the new features planned for YouTube artists in 2019.

Deeper Connection With Audience Using NFT

Web3 integration was also mentioned by Mohan, who said that NFTs might enable creators to create deeper connections with their audience and further monetize YouTube content using NFTs. Mohan threw forth some ideas for possible NFT and blockchain implementations on YouTube. 

Mohan said:

“Giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect.”

When it comes to Web3 integrations, Mohan says he wants to take a deliberate approach. NFTs might be integrated into YouTube to allow holders of a specific NFT collection to access a creator’s material or unique badges during live streams. However, Mohan didn’t elaborate on this. A new monetization option for content providers might be to sell videos as NFTs.

In the past, a YouTube executive had hinted at the possibility of Web3 capabilities being added to the video site. Earlier this month, YouTube CEO Susan Wojicki said that the company was considering growing the YouTube ecosystem, which she claimed might include “things like NFTs.”