Video hosting YouTube is considering integrating NFT to monetize content on the platform.
YouTube’s Chief Product Officer Neal Mohan said:
“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. 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. There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well.”
Mohan cited verifiable ownership of unique videos, photographs, and other works as an example of how the technology could be used.
According to the publication, over 2 million users joined the YouTube Partner Program in 2021.
Earlier, CEO Susan Wojcicki announced plans in a letter to Video creators, the video-sharing platform YouTube’s CEO Susan Wojcicki suggested the company is discovering the ways for NFT integration on its website.
In January 2022, Twitter integrated NFTs as user profile avatars. In February, a similar option was added by the content subscription service OnlyFans.