YouTube Ushers in New Web3 Era

On Feb 20, 2023

New YouTube CEO Neal Mohan is bullish about the potential of NFTs and Web3.

It won’t be long before YouTube leverages NFTs for its creators. In fact, the new CEO of YouTube is full of admiration for the technology.

Neal Mohan spoke glowingly about NFTs in his recent blog post. Indeed, Mohan even listed examples of how he sees NFTs being integrated into his platform.

He said: “We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans. 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 could be a compelling prospect for creators and their audiences.

Thank you, @SusanWojcicki. It’s been amazing to work with you over the years. You’ve built YouTube into an extraordinary home for creators and viewers. I’m excited to continue this awesome and important mission. Looking forward to what lies ahead… https://t.co/Rg5jXv1NGb
— Neal Mohan (@nealmohan) February 16, 2023

YouTube and NFTs

YouTube is stepping into a brave new era. Inevitably, the new CEO Neal Mohan will pick up where former CEO Susan Wojcicki left off, and start the integration of NFTs. Prior to her departure, Susan hinted that she would be “expanding the YouTube ecosystem” to include “things like NFTs”. Now, it seems imminent that Mohan will integrate Web3 tools for YouTube creators.

Based on his previous comments, we can expect creators to be more empowered in the new era. Moreover, there will be more paths to monetising content with NFTs. For example, fans could buy an NFT which gains them access to exclusive content. Additionally, selling video segments as NFTs could be another path for creators, which gives value to their fans.

NFTs are slowly taking over

YouTube is not the first tech giant to make the leap into Web3. In fact, YouTube is following in the footsteps of Google, Twitter, and Instagram, which have all started the process of integrating Web3 tools.

For instance, Twitter will soon allow users buy, sell, and display NFTs directly through tweets in partnership with four marketplaces.

Also, Instagram welcomed NFTs onto its platform last year, and even became an NFT marketplace.

As for Youtube, the potential is limitless with NFTs and its billion dollar creator economy.