Youtube might bring the NFT sales feature on their platform due to the enormous potential it holds. They are just looking for new ways to generate revenue streams by engaging with the creators and audience. Youtube’s CEO, Susan Wojcicki, said they might integrate NFTs as an inspiration from the Web3 universe. They also mentioned other tech like Metaverse, blockchain, Web3 as part of the features they plan to bring in 2022.
Youtube might bring NFT and other blockchain features in 2022
The Chief product officer, Neal Mohan, said that their plans to introduce these features come after receiving feedback from millions of creators globally. Youtube says that NFTs can help creators engage in a better way with fans and work on projects together. And since it will allow their content to be owned by someone, they can make additional money from that. This hasn’t been possible till now, but there are a lot of opportunities with NFTs.
In fact, creators can make multiple NFTs from a single video they make and sell them directly on the platform. For popular creators, this will surely become an efficient way to make money. It doesn’t just stop here as Youtube also plans to bring Metaverse to their platform. They will be trying to bring new ways by which users can experience VR on the platform.
The idea behind this is to make the viewing experience even more immersive for the viewers. But a problem here would be the fact that for virtual reality experience, a headset is required. So, it will be interesting to see how Youtube tries to implement it. It is great to see that the largest video sharing platform and second-largest search engine is bringing blockchain applications to its platform.
Backlash?
Due to the environmental concerns surrounding NFTs, blockchain, and crypto, Youtube could face some backlash. Some Twitter users already tweeted out why they would want someone to own their videos as NFTs. But it’s clear that they didn’t understand the concept of the same. So no worries! I don’t think Youtube will allow viewers to own videos on their platform without the consent of the creator. Therefore, success or failure depends on how Youtube implements it.
What are your thoughts as Youtube might bring NFT sales feature in 2022? And do you think this will get them a lot of backlashes from creators? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Gucci buys land in the Metaverse to bring themed digital experiences.
