YouTube Plans to Launch Web3, Metaverse and NFT in 2022, Despite Backlash

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YouTube Plans to Launch Web3, Metaverse and NFT in 2022, Despite Backlash
YouTube Plans to Launch Web3, Metaverse and NFT in 2022, Despite Backlash

YouTube is working on NFT integrations to offer creators new ways to connect with fans and generate additional revenue streams.

YouTube List New Products, Tools and Features to Launch in 2022

According to a blog post on February 10, YouTube’s Chief Product Officer Neal Mohan outlined a long list of new products, tools, and features the company plans to launch in 2022, citing Web3 technology, blockchain, NFTs, and Metaverse.

Just a few weeks ago, YouTube CEO Susan Wojcicki hinted that the platform could use Web3 as a source of inspiration for growth and potentially adopt NFTs on its platform.

Mohan said that after receiving feedback from the community, YouTube is actively looking for new ways to provide additional support and choice for its 2 million co-creators.

After mentioning that developers often struggle to come up with new content ideas or figure out what’s successful on the platform, Mohan points to Web3 technologies like NFTs as a possible solution:

“Web3 also opens up new opportunities for creators. We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans. Together, they’ll be able to collaborate on new projects and make money in ways not previously possible.”

Among the potential ways developers can leverage NFT technology, Mohan suggested they could tag their videos, photos, artwork, and experiences to engage with fans.

Major Tech Companies Face NFT Backlash

Mohan also paid tribute to the current buzzword, metaverse, as he outlined some new ways viewers can expect to experience content through virtual reality. YouTube executives said the company would look into the gaming issue first but didn’t provide any details at the time.

He stated that after all, they couldn’t write an article about innovation without including Metaverse! They are thinking about how they can make viewing more immersive. The first area we can expect is gaming, and they will work hard to provide games that bring more interaction and make us feel more alive.

He added that it’s still early days, but they are excited to see how they can turn these virtual worlds into a reality for viewers.

Given the amount of public backlash following the release of NFTs by companies like Discord, Ubisoft, and Team17, it’s bold in the current environment that major tech companies like YouTube have outlined plans related to NFTs.