YouTube sees “tremendous potential” in NFT video sales, despite threatening reaction

YouTube is exploring NFT integrations to help creators connect with fans and provide new ways to develop additional revenue.

The news came as YouTube director Susan Wojcicki arrived a few weeks ago to grow that the platform could use Web3 as a “source of inspiration” and perhaps take NFTs to the web.

In a Feb. 10 blog post, Neal Mohan, YouTube’s chief product officer, outlined a long list of new products, tools and features that the company wants to launch in 2022, including Web3 technology, blockchain, NFT and metaverse.

Mohan said YouTube is actively looking for new ways to provide additional support and opportunities to its two million creative partners after receiving feedback from the community.

After noting that creators often have difficulty coming up with new content ideas or guessing that they will succeed on the platform, Mohan pointed to Web3 technology, such as NFTs, as a potential solution:

“Web3 also opens up new opportunities for creators. We believe that new technologies like blockchain and NFT can allow creators to build deeper relationships with their fans. Together, they will be able to collaborate on new projects and make money in a way that was not possible before. ”

About the potential ways for creators to use NFT technology, Mohan suggested that they can tokenize their videos, photos, art, and experiences as a way to connect with fans.

“A lot needs to be considered to approach these new technologies responsibly, but we also believe that there is tremendous potential,” he said.

Mohan also paid tribute to the current word – “Metaverse” – by emphasizing that viewers can expect new ways to experience content through virtual reality. The YouTube executive stated that the company will address the games first, but did not provide details at this stage.

“Finally, we couldn’t have an article on innovation without touching Metabertso! We’re thinking about how to immerse ourselves in the show. The first area you can expect to see impact is in the games, where we will work to bring more interaction to the games and make them feel more alive. ”

“It’s still early days, but we’re excited to see how we can make these virtual worlds for viewers,” he added.

Related: OnlyFans launches NFT profile photo feature

A major technology company like YouTube, which sets out any plans for NFTs, is bold in today’s environment, considering the negative public reactions to NFT’s predictions like Discord, Ubisoft and Team17, which has followed several times.

One of the most common arguments of opponents is to hold NFT responsible for environmental damage as a result of money laundering, fraud or the mining practices of some cryptocurrencies. The Independent left-wing UK media journalist Adam Smith highlighted Public perception of progressives against NFTs on Twitter today states:

“A YouTube spokesperson told me that they have nothing else to share about the major environmental damage caused by NFT, even though Google is ‘dedicated to sustainability’, it’s very good.”

He then offered YouTube or Google staff a chance to request an article.

Proponents of her case have been working to make the actual transcript of this statement available online. And while the reaction is focused on the electricity consumption of block chains of proof-of-work, other chains that take on NFTs use evidence tests that are more than 99% more energy efficient.

My Youtube content doesn’t have to be. That’s why I make it available for FREE. Who the hell thinks this is a good concept?

I’m bored with this garbage

– Brad Lynch (@SadlyItsBradley) February 10, 2022


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