Video sharing giant YouTube says its planning to integrate non-fungible tokens (NFTs) into its business model.
In a new interview with BlockWorks, YouTube CEO Susan Wojcicki says NFTs would make it easier to identify which creator made a video, and it would add another way for content creators to monetize their work.
“If creators are selling their videos as NFTs, then that’s an important form of monetization… [NFTs] are a form of monetization and we want to provide the best monetization to all creators.
The second reason is that we also are in the best position to verify which assets actually belong to which creators. It would be a problem [for creators] if some third-party site was selling videos without knowing that it belonged to [them].
If it turns out that this is an important form of monetization, we want to be there to support [creators] and make sure content isn’t being stolen and sold somewhere else.”
Youtube CEO on why they will integrate NFTs pic.twitter.com/eo9W8mTHnQ
— Blockworks (@Blockworks_) May 26, 2022
Earlier this year, YouTube’s chief product officer Neil Mohan that the flagship video-sharing website would be including NFTs and other Web 3.0 services into its platform for monetization purposes.
“Together, they’ll be able to collaborate on new projects and make money in ways not previously possible. For example, giving 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 audiences.”
