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Youtube will have metaverse and NFTs, says director of the social network

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Neal Mohan, product director at video platform YouTube, first addressed the video giant’s plans for the blockchain and metaverse sector.

In a text published on his official blog titled “2022: Community, Collaboration and Commerce”, the executive detailed the social network’s plans for 2022.

Among other things, he highlighted that Web3 opens up new opportunities for video creators. Furthermore, he pointed out that blockchain and NFTs can further enhance this window of opportunity.

“We believe that new technologies like blockchain and NFTs can allow creators to build a deeper relationship with fans, allowing them to invest in new projects, collaborate and monetize their content like never before,” said Mohan.

Youtube will have metaverse

On the specific use of NFTs, Mohan pointed out that fans can have a verifiable way to own videos, photos, art, and even exclusive experiences from their favorite creators.

“This can be an attractive prospect for creators and their audience,” he said.

According to Mohan, there are many factors to consider to ensure that YouTube uses these new technologies responsibly. But for him, technologies like NFTs have incredible potential.

The executive also pointed out that YouTube has prioritized the deployment of the metaverse, which is also an element of the Web3 movement and describes a shared virtual world in which people interact, often through avatars.

“We can’t have a groundbreaking chapter without involving the metaverse!” he said.

In that sense, Mohan said the video platform is thinking about how to make viewing more immersive. However, for now, YouTube will focus on “gaming” related videos. This is an effort by the platform to promote more interaction and make the games more vivid.

“It’s still early days, but we’d love to bring these virtual worlds to life for the public to watch,” said Mohan.

YouTube is the world’s largest streaming service and is part of Google, a subsidiary of Alphabet.

Over the past year, the company has tried to attract users with new features and better product orientation. After all, it began to suffer from competition from TikTok and Meta Platforms (formerly Facebook).

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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