YouTube will enter the market for NFTs and metaverse games
YouTube will enter the market for NFTs (non-fungible tokens), immersive metaverse games, and other cryptocurrency industry products. This was announced by the company on February 10 in a statement about the new products, tools and features that will launch in 2022.
Neal Mohan, YouTube's chief product officer and who wrote the statement , said: "I'm excited for all the new products and tools we're launching in 2022 - you'll notice some highly requested features on the road this year. Each update is based on a wealth of research and data, as well as feedback from the entire YouTube community."
Among all the services they plan to launch, he warned that some of them are within the cryptocurrency industry . The first he mentioned is the NFT market, which he says would allow YouTubers to connect with their followers and earn money.
“Web3 opens up new opportunities for content creators. We believe that new technologies like blockchain and NFT can allow creators to build deeper relationships with their fans. Together they will be able to collaborate on new projects and earn money in ways that were not possible before.”
Neal Mohan, Chief Product Officer at YouTube.
YouTube seeks to innovate by integrating itself into the NFT market, immersive games and cryptocurrency industry products. Source: cottonbro / pexels.com
Regarding this, he points out that YouTube could launch a verification of NFTs, something that, for example, Twitter has already done in profile photos, as reported by CriptoNoticias. "Giving a verifiable way for fans to own videos, photos, art, and even unique experiences from their favorite creators could be a compelling prospect for creators and their audiences," she notes.
Although that is just one example of what they are thinking of doing in NFT and in blockchain . They could also integrate other ecosystem services. "There's a lot to consider to make sure we approach these new technologies responsibly, but we think there's also incredible potential," he says.
Second, YouTube mentions another service in the cryptocurrency industry that they plan to get into in 2002. On that, the company spokesperson says: “We couldn't have a piece on innovation without touching the metaverse! We're thinking big about how to make viewing more immersive."
The first area of the metaverse that YouTube teases they will impact is games , where they will work to bring more interactions and make them feel more alive. The director of products expresses: "It's still early days, but we're excited to see how we can make these virtual worlds a reality for viewers."
YouTube warns that video innovation is growing and puts the magnifying glass on NFTs and games
The plans that YouTube projects in the NFTs and the metaverses respond to the platform's intention to innovate every year to maintain its leadership, the company warns. The company estimates that its users watch more than 1 billion hours of video per day, generating billions of daily views.
Neal Mohan mentioned, “Today, the world of video innovation on YouTube is moving so fast that it feels like we're just at the beginning. Though somehow it seems like that's what we say every year since YouTube was founded in 2005."
YouTube's chief product officer concluded the statement by saying: "It is perhaps thanks to the incredible era of change and innovation that we find ourselves in a series of new beginnings, not only for ourselves, but also for our creators, viewers and partners. And with so much to come in 2022, here's to another exciting start."
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