YouTube is looking to expand its functionalities, products, and tools, so that viewers, partners, and creators can have more things to work with on the platform. According to the Chief Product Officer, Neal Mohan, a couple of the promised features will have similarities with blockchain, NFTs, and Metaverse features. The aim is to increase user engagement.
YouTube is considering various options regarding how content viewing can be made more immersive, and Mohan believes that the Metaverse functionalities can help solve that puzzle.
There are speculations that the new functionalities would be provided through Partner Program on YouTube, an avenue that has helped YouTube creators effectively monetize their content. According to Mohan, Partner Program users hit 2 million in 2021.
‘The very first section where this would be greatly felt is in gaming, because our intention is to make gaming more real and more interactive. I may not be able to give you a full picture of what to expect, but we are optimistic about maximizing the possibilities of virtual worlds so they can look more real to our viewers,’ says Mohan in a post.
Mohan equally pointed out that YouTube is strongly considering adopting NFTs and blockchain technology as a way of benefiting from Web 3’s decentralization structure.
‘Creators have more opportunities to work with in Web 3. YouTube strongly believes that techs like NFTs and blockchain will assist creators in interacting with fans on a deeper level. Collaborating on new projects and making money can be achieved in ways that were not possible before now,’ the Chief Product Officer stated.
According to him, for instance, fans can own unique photos, videos, artwork, as well as other products, thanks to their most preferred YouTube creators.
‘Let us not forget that these technologies are still new, and should be used in a responsible manner. And while that is the case, we must also admit that they come with great potentials. As such, YouTube is working hard to ensure that such potentials are rightly harnessed and maximally explored,’ said Mohan.
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