Here’s why video-sharing giant YouTube plans to integrate NFTs, according to the CEO
Video-sharing giant YouTube announces plans to integrate non-fungible tokens (NFTs) into its business model.
in a new interview Along with BlockWorks, YouTube CEO Susan Wojcicki said NFTs would make it easier to identify which creator made a video, and it would add another way for content creators to monetize their work.
“If creators are selling their videos as NFTs, then that’s an important form of monetization… [NFTs] are a form of monetization and we want to provide the best monetization for all creators.
The second reason is that we are also in the best position to verify which assets actually belong to which creators. It would be a problem [for creators] if a third-party site sold videos without knowing that they belonged to [them].
If this turns out to be an important form of monetization, we want to be there to support [creators] and make sure the content isn’t stolen and sold elsewhere. »
Youtube CEO explains why they will integrate NFTs pic.twitter.com/eo9W8mTHnQ
—Blockworks (@Blockworks_) May 26, 2022
Earlier this year, YouTube product manager Neil Mohan hinted that the flagship video-sharing website would include NFTs and other Web 3.0 services in its platform for monetization purposes.
“Together, they will be able to collaborate on new projects and earn money in ways that weren’t possible before. For example, giving fans a verifiable way to own videos, photos, artwork and even unique experiences from their favorite creators could be a compelling prospect for creators and their audiences.
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