YouTube Gears-up for Blockchain Expansion
Updated · Feb 11, 2022
YouTube revealed that Web3 and Blockchain technologies will play a part in its plans for 2022.
Opening Up New Opportunities
Loads of companies are hopping on blockchain and crypto innovations, and the world’s top video sharing platform will not be left out. Throwing light on its plans for the year, Youtube looks to integrate emerging Web3 technologies into its platform.
In a Thursday blog post, the company affirmed its belief that such innovations facilitate more immersive connections between creators and fans.
“Web3 also opens up new opportunities for creators. We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans,” Chief Product Officer Neal Mohan wrote.
Mohan believes that harnessing Blockchain elements can also lead to higher incomes drawn from creators’ channels.
“Together, they’ll be able to collaborate on new projects and make money in ways not previously possible. For example, giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators and their audiences.”
He went on to cautiously state,
“There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well.”
The CPO’s post also highlighted other features that YouTube has lined up. They include Livestream Channel Guidelines to help “shape the tone of conversations”. Additionally, the company will explore various avenues for creators to earn income from YouTube Shorts, like a branded content feature.
Daniel is an Economics grad who fell in love with tech. His love for books and reading pushed him into picking up the pen - and keyboard. Also a data analyst, he's taking that leap into data science and machine learning. When not writing or studying, chances are that you'll catch him watching football or face-deep in an epic fantasy novel.
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