YouTube CEO Reveals Bullish Stance About NFT and Metaverse
Neal Mohan, the new chief executive officer of the popular online video-sharing platform YouTube, talked about the potential of non-fungible tokens (NFT) and the virtual ecosystem. The CEO is confident that integrating the NFT, metaverse, and blockchain technology will boost opportunities for YouTube creators.
Opportunities For Creators
The new CEO, who recently succeeded Susan Wojcicki as the head of the popular video-sharing platform, revealed that Web3 would trigger massive creator opportunities. Mohan noted that these technologies could help creators and fans connect and interact with one another and earn income in many ways.
According to the new CEO, creators can utilize NFT to offer verifiable ways to own unique digital collectibles like photos and videos and even create immersive experiences for their fans. However, Mohan advised that creators responsibly approach these technologies as they try to leverage them to earn more.
Speaking of business expansion, Mohan noted that across the different formats available in the Web3 space, creators explore new ways to make money and expand their platforms.
He believes that technologies like NFT not only open up new revenue streams to creators but also for collectors and fans as well. For the metaverse, the YouTube CEO claimed that his company is thinking big and exploring how to make video viewing more immersive for users.
He added that this would first be adopted in the gaming sector, where the metaverse could bring immersive interactions to games, making gameplays livelier and more exciting.
A Change Of Guard
Wojcicki stepped down after nine years as the CEO of YouTube last week. The former CEO has outlined plans to begin a new chapter for herself, focusing on health, family, and personal projects.
During her time as the CEO of the video-sharing platform, Wojcicki oversaw the introduction of the revenue-sharing model between the firm and content creators, among other policies. A graduate of Stanford University, Mohan began his journey at Google in 2008 as YouTube’s chief product officer.
He led the development of some of the firm’s most significant policies and changes, including introducing YouTube Shorts and Music. Like its sister company Google, YouTube has also announced its move into the crypto space.
In 2022, Google unveiled the cloud-based service for Ethereum developers dubbed the “Blockchain Node Engine.” After the launch, Ethereum became the first blockchain project to debut on the Blockchain Node Engine, with the tech giant announcing that it would extend it to Solana Blockchain later in the year.
Google has had a strategic partnership with several key crypto industry players recently, with the deal with Coinbase set to allow users to use crypto tokens to pay for their cloud services. Furthermore, Google revealed that a select number of users would be allowed to pay for cloud services with Bitcoin in the coming weeks.
It will be interesting to see how Mohan will build on from where Wojcicki left to make YouTube more attractive for creators.
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