YouTube considers NFTs to enable fans “own” videos
Video streaming platform YouTube has announced that it will be expanding into Non Fungible Tokens (NFTs) to enable fans “own” creators’ videos.
In a blog post made on Thursday, Neal Mohan, YouTube’s chief product officer, wrote that Web3 “opens up new opportunities for creators”.
“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 audience,” Mr Mohan said.
This announcement was made as part of a look into the streaming platform’s new products, tools, and features for creators, viewers, and partners. Other features mentioned by Mr Mohan include YouTube Shorts and collaborative live streaming, which would allow creators to go live together for their audiences.
Though no solid ideas have been announced publicly by the company, YouTube mentioned the possibility of allowing users to watch videos together in the metaverse. The blog post notes that the company will focus for now on videos related to “gaming, where we’ll work to bring more interactions to games and make them feel more alive.”
In January, YouTube CEO Susan Wojcicki had hinted that the company was considering the introduction of NFTs for creators to connect in a different way with fans.
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