TL;DR:
- Neal Mohan, the newly appointed CEO of YouTube, has shown support for Web3 technology and NFTs, which could help creators build deeper relationships with their fans. YouTube has over 74.8 billion visits per month and is one of the most popular websites globally.
- Mohan stated in a blog post that YouTube was looking at ways to integrate Web3 technology and revealed that NFTs could be a “verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators.”
- In addition, the new technology can also make games and other interactive experiences more immersive. Google, the owner of YouTube, is also embracing Web3, having launched a cloud-based service for Ethereum projects and developers called the Blockchain Node Engine.
Neal Mohan, YouTube’s newly appointed CEO, has spoken about his support for Web3 technology and NFTs, which he says could help creators build deeper relationships with their fans. With over 74.8 billion visits per month, YouTube is one of the most popular websites in the world.
Mohan has kept an open mind about the evolution of the internet and its associated platforms during his tenure as YouTube’s Chief Product Officer. In a blog post last year, he stated that YouTube was looking at ways to possibly integrate Web3 technology, such as leveraging the metaverse or tapping technology like NFTs.
NFTs, unique digital tokens that are often used to assert ownership of online content, could be a compelling, “verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators,” according to Mohan. The technology can also make games and other interactive experiences more immersive.
Google, the owner of YouTube, is also embracing Web3 technology, having launched a cloud-based service for Ethereum projects and developers called the Blockchain Node Engine. The service both hosts and automatically manages individual nodes that contribute to a blockchain’s network, bringing the “reliability, performance, and security [people] expect from Google Cloud compute” to the digital assets industry. The company also gave a nod to Ethereum last September as the network transitioned to a less energy-intensive form of verifying transactions.
YouTube has seen some prominent employees embrace Web3, such as its former Global Head of Gaming, Ryan Wyatt, who left after seven years at YouTube to join Polygon Studios as CEO in February 2022 and has since shifted to serve as President at the rebranded Polygon Labs. Wyatt sees similarities between YouTube and Polygon, a sidechain that runs in tandem with Ethereum and seeks to improve on its counterpart by offering faster transactions and lower fees while serving as a platform for interoperable blockchains.
Thanks for reading Solanews, make sure to follow our social media channels for more!