Neal Mohan
On February 10, local time, Neal Mohan, chief product officer of video platform YouTube, posted a guide to "Looking Ahead to 2022: Community, Collaboration, and Commerce" on his official blog, detailing its blockchain and metaversy plans for 2022.
"Web3 opens up new opportunities for video creators. We believe that new technologies such as blockchain and NFTs (non-homogeneous tokens) can allow creators to build deeper relationships with their fans, enabling them to collaborate on new projects and monetize like never before. Mohan said.
In the context of NFT use, Mohan points out that it can provide fans with a verifiable way to have unique videos, photos, art, and even experiences from their favorite creators.
"This can be a compelling prospect for creators and their audiences." Mohan said there are many factors to consider to ensure that YouTube uses these new technologies in a responsible way, but technologies such as NFTs do have incredible potential.
At the same time, YouTube has prioritized the deployment of metaverse, which is also an element of the Web3 movement, describing a shared virtual world where people usually interact through avatars.
Metaverse: Make YouTube more immersive. (Image source: YouTube official blog)
"If we don't involve the metacosm, we can't have a chapter of innovation!" Mohan says YouTube is thinking about how to make watching more immersive. At present, YouTube may focus on "game" related videos first, and strive to bring more interaction to the game and make it more vivid.
"It's still early, but we'd love to turn these virtual worlds into reality for viewers to see." Mohan said.
YouTube, the world's largest streaming service, is affiliated with Alphabet's subsidiary, Google. Over the past year, with increasing competition with ByteDance's TikTok and Meta Platforms' (formerly FaceBook)'s Instagram, the company has tried to attract users with upcoming new features and better product guidance.
Web3 is an idea for a new iteration of the World Wide Web based on blockchain technology that blends concepts such as decentralization and token economics.