Youtube Expansion into NFTs
Global streaming platform, YouTube has announced that it will be expanding into NFTs (Non Fungible Tokens) so that fans can “own” creators’ videos.

Neal Mohan, who is Youtube’s chief product officer, wrote in a blog post that Web3 – the next stage of the internet – “opens up new opportunities for creators”.

Further stating that technologies like the “blockchain and NFTs blockchain and NFTs can allow creators to build deeper relationships with their fans.”

The technology, according to Mohan, will give “a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect for creators and their audience.” Mr Mohan added that there was “a lot to consider” for YouTube to “approach these new technologies responsibly”.

It is unclear exactly what YouTube means when it says that creators can own creators’ videos, considering that ownership of NFTs do not inherently transfer copyright.

As well as NFTs, YouTube is rolling out new editing tools and effects for its TikTok clone Shorts, as well as replying to individual comments by creating a Short.

Collaborative live streaming is also being introduced to “open up streams to more casual conversation and interactions with other creators”, and creators will also be able to set channel guidelines to better monitor comments on their videos.

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