On Thursday, YouTube’s Chief Product Officer, Neal Mohan posted an article on that company’s blog page announcing its broad intentions regarding Web3 and enabling non-fungible tokens (NFTs) on its platform. Mohan’s article titled, A Look at 2022: Community, Collaboration, and Commerce, provided an overview of YouTube’s planned products, features, and tools to be deployed this year. Mohan’s article echoes and reinforces a similar message delivered by YouTube’s CEO, Susan Wojcicki last month.

Web1 was the original iteration. It was essentially static pages and message boards that could be accessed using dial-up lines. Web2 was the birth of central platforms like Amazon (NASDAQ) and Google (NASDAQ), which attracted people and monetized their content via broadband internet connectivity. In Web3, platform users will also be content creators who will profit share in the “mods” and adaptations they develop in partnership with the primary platform using repurposed high-frequency broadcast channels. Mohan’s announcement outlines that the future of YouTube builds on that premise and is more creator-focused than ever before.

“Web3 also opens up new opportunities for creators. New technologies such as blockchain and NFTs may allow creators to develop deeper connections with their followers. Together, they’ll be able to collaborate on new projects and make money in ways not previously possible. Creators and fans could find it appealing to have a way to purchase unique photos and videos from their favourite creators. There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well,” said Mohan in the announcement.
Mohan explained that the intention of NFTs and other blockchain-related aspects was to allow content creators and channel posters to more opportunities to monetize content. YouTube will become the premier platform for developers with the brightest ideas in the world.

“And across all these formats, you’ll see even more ways to help creators make money and build a business. We reached 2 million YouTube Partners in 2021. There are 10 ways they can make money. All of this work takes into account the feedback from creators, so keep it coming,” said Mohan.
While Mohan didn’t provide specific details about how creators can make money using NFTs, the nature of NFTs lend themselves to all kinds of loyalty rewards programs; progressive membership enrollments; paid educational or training tiers; exclusive access to live streams or virtual meetups and more. You could transform your most popular content into NFTs to sell direct to users. We will see how this idea becomes reality.

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