YouTube could incorporate NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. so creators can tokenize the process by which real-world assets are turned into something of digital value called a token, often subsequently able to offer ownership of parts of this asset to different owners. their content. He also sees Web3 and the metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. as potential tools to enhance the user experience.
A few weeks ago, the CEO of YouTube Susan Wojcicki, presented a letter outlining some of the company’s plans for this year. Among them, mentioned the possibility of integrating a tokens non-fungible (NFT), pointing out the potential of such technology to provide monetization tools for content creators on the platform.
This week, YouTube has bent that optimistic stance on NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). and extended it to two other technology trends: Web3 and the metaverse.
NFT and Web3 have a ” incredible potential”.
In a blog post Thursday, the site’s product manager, Neal Mohan, detailed the areas of interest that the site’s YouTube is looking to explore this 2022 as part of its growth strategy. The post, which mentions a long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. list of new products, tools, and features the company plans to implement, mentions NFTs, Web3, and the metaverse.
Mohan said the video giant has been actively looking for new ways to provide additional support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. and options for its more than two million creators, especially when it comes to monetizing their content. He also mentioned that creators have cited difficulties in generating new content ideas or figuring out what will be successful on the platform.
The executive pointed out that the “ new technologies “could provide a solution. As such, he pointed out that digital digital technologies are these electronic tools that have the ability to generate, store or even process data. collectibles could help creators generate “ unique experiences “for the fans.
We believe that new technologies, such as blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. and NFTs, can enable creators to build deeper relationships with their fans. Together, they can collaborate on new projects and make money in ways that weren’t possible before. For example, offering a verifiable way for fans to own videos, photos, art, and even unique experiences of their favorite creators could be an attractive prospect for creators and their audiences.
Suggests that a possible use case for NFTs could be be the tokenization of videos, photos and art as experiences to interact with fans. It would also allow users to prove unique and verifiable ownership of content. By 2021, YouTube gained more than two million users in its Partner Program, a way for creators to earn revenue from their work.
YouTube dives into the Metaverse
“ Web3 also opens up new opportunities for creators “Mohan had emphasized in the same paragraph. The term Web3 refers to an evolved version of the Internet, which promises to be decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. with the help of Blockchain, while giving web surfers greater authority and autonomy over their data and web content.
The company noted the enormous “ potential The “new” technologies, although not without emphasizing its intention to adopt them in the most “sustainable” way possible. healthy “for creators and their ecosystem. “ There are many things to consider to make sure we approach these new technologies in a responsible way, but we believe there is also incredible potential. “, says Mohan.
Finally, YouTube also announced that it is taking its first steps into the metaverse, a concept that refers to interaction with online virtual worlds. “ Finally, we could not dedicate an article to innovation without talking about the metaverse”.
We’re thinking big about how to make visualization more immersive. The first area where you can expect to see an impact is gaming, where we’ll be working to bring more interactions to games and make them feel more alive. It’s still early days, but we’re looking forward to seeing how we can turn these virtual worlds into a reality for viewers.
More social platforms adopt new technologies
YouTube owned by Google reported that, as of January 2022, viewers watch more than 700 million hours of content daily on the platform. The video site is also the second most-used search engine after Google .
The video giant’s adoption of new technologies could be highly conducive to the widespread acceptance of digital assets and their underlying technology. Should it implement NFT, Web3 and metaverse features for its creators, the company will be positioned to legitimize the technology space for a huge global audience.
The announcement of YouTube comes at a time when social platforms are increasingly shifting towards the creator economy and user-generated content. In the face of this pervasive phenomenon, it is not surprising that some of the leading social interaction sites are taking a more open approach to cryptocurrencies and NFTs.
Facebook and his sister Instagram have announced plans to integrate NFT functions, while their parent company Meta takes on a metaverse-focused strategy. The popular microblogging site, Twitter was the first to deploy NFT functions. and more recently, other content platforms, such as OnlyFans y Tinder have also begun to take steps in this direction.
- CEO of Alphabet, Google’s parent company: “We are definitely targeting Blockchain”
- OnlyFans now allows you to use a NFT as a profile picture
- Facebook and Instagram to offer features to create and sell NFTs, reports say
Article by Hannah Estefania Perez / DiarioBitcoin
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