YouTube is interested in adding NFT features to the platform

jsilva

Posts: 325   +2
In brief: YouTube CEO Susan Wojcicki shared a letter with creators explaining the platform's top priorities for 2022, which included a couple of surprises. It seems YouTube has been paying attention to emerging technologies like NFTs so developers can make extra money with them.

YouTube's CEO points to Web3 technologies as an inspiration for what's coming to the video platform in 2022. The letter doesn't specify how they will use NFTs or mention release dates for these features, but we should have our first look at them this year.

"The past year in the world of crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans," said Wojcicki. "We're always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube."

The first idea that comes to mind when we put NFTs and YouTube together is content creators selling them directly to viewers, but there might be a twist here and there to make things more interesting. Maybe Google can create its own NFT marketplace, with YouTube as the main supplier, or just use established third-parties like Open Sea and Rarible.

Besides NFTs, other money-making opportunities coming to YouTube later this year include podcasts and expanded shopping features. YouTube is also working to add more ways to remix Shorts content.

Wojcicki took the opportunity to comment on disabling the dislike count, stating this feature was often used to harass smaller YouTubers. Based on the data YouTube gathered, there was no significant difference in viewership whether dislikes were public or not.

The letter also had some interesting bits about YouTube. For example, Shorts videos have a total of 5 trillion all-time views. In addition, it showed how much YouTube impacted the worldwide economy in 2020, supporting over 800,000 jobs in the United States, Japan, South Korea, Canada, Brazil, Australia, and the EU combined.

From publishers like Ubisoft and Square Enix to news agencies like Associated Press, there's a considerable number of companies hopping into the NFT-verse. Consumers have also shown interest in certified virtual art, with yearly spending on NFTs surrounding the $27 billion mark.

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Geralt

Posts: 1,126   +1,742
It is another symptom of the decay of the present civilization. The good news is that a new civilization will follow.
 

Dimitriid

Posts: 2,207   +4,246
It is another symptom of the decay of the present civilization. The good news is that a new civilization will follow.

Youtube and all that goes on including their most popular videos and content creators is a good thermometer of the decay of civilization: stealing from others, exploiting viewers with all kinds of things from merchandise to undisclosed advertising to requesting direct donations on and off the platform up to actual grooming of fans and sex abuse of said fans, artificially creating interest and engagement by setting the precedent of bullying people and rewarding those channels, eventually bending over backwards to please the biggest media conglomerates trying to get into the platform, continued promotion of unhinged extremists like openly fascist content, etc. I could go on.

It seems like NFTs are just the icing on the crap cake at this point: Whatever is the worst thing imaginable you can think of either youtube or a prominent youtuber is doing it or has been doing it, for profit.
 
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wiyosaya

Posts: 7,703   +6,646
Gagme - "So developers can make extra money with them (and we can suck them dry while they think they are making extra money)." :facepalm:
 

Aceseven

Posts: 315   +398
It's google, they'll either...

A.) drop it because thats what they do with all their ideas
B.) implement it so badly that they...look at reason A.
 

tellmewhy

Posts: 183   +86
The excessive pressure from too many rules makes the content flat.
YT strives to comply with all the laws that exist in every nation. It’s a difficult task. The easiest would be if a nation has a very strict culture, then they should enrich with few more district manual options the already exist restricted mode function and set it on by default in those nations and not setting very strict rules globally.
 
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mosu

Posts: 562   +199
The excessive pressure from too many rules makes the content flat.
YT strives to comply with all the laws that exist in every nation. It’s a difficult task. The easiest would be if a nation has a very strict culture, then they should enrich with few more district manual options the already exist restricted mode function and set it on by default in those nations and not setting very strict rules globally.
keep dreaming...