YouTube came early to the party when it comes to video content, however, the new video platforms such as TikTok and Instagram are more agile and they keep innovating non-stop.
Now, the video-sharing platform YouTube is trying to come up with new features for creators and users. The company’s CEO Susa Susan Wojcicki in her latest blog post announced that the platform is considering introducing NFTs, video effects and live shopping for creators.
“We’re seeing lots of interesting applications, such as NFTs being used to help manage a community of common interests; enabling better crowdfunding for creators; helping artists mint and sell their work in a verifiable way that also earns them a rev share for future sales,” a spokesperson told us. “We think YouTube can add a lot of unique value to what people are already doing in this space.”
YouTube says their plans to focus on Web3 and blockchain technologies like Non Fungible Tokens (NFTs) will help the company and its creators.
“Our creators are already engaging with NFTs, so we believe it’s important to understand the space and help drive it in a direction that’s good for creators and viewers,” the spokesperson said. “We’ve done this already with our alternative monetization products — we saw that people were selling items, so we created a merch product. Creators are already engaging with NFTs and we want to help make that easier and better.”
Still not clear when YouTube will implement its laundry list of new features. So far is just talk and more talk…blah blah and yes, only time will tell.
Leave a Reply