YouTube will allow creators to sell their videos as non-fungible tokens
The congestion in the crypto space is quite captivating. Recently, we have been hearing of different celebrities, companies, and even banks getting involved in either cryptocurrency or NFTs. they see the need for introducing digital currencies in their different spheres of influence. We have news about fashion brands like Gucci buying land in the Sandbox and a lot more. That, however, is not the end of it all. YouTube also creates a tool that allows its users to sell content in the form of NFTs.
History of YouTube
When we mention YouTube everyone leaps because it is one the most sorted search engines after Google. It is a site everyone goes to for entertainment, news, and a lot more. When people do not find adequate information on what they are looking for, they quickly switch to Youtube because they are certain they will find the answer in detail. YouTube has existed since 2005 and it has grown so rapidly. We cannot count the number of times people search on Youtube every minute. As we mentioned, it is the second-largest search engine in the world. On this website, you find videos that touch almost every sphere of life. It also suggests videos that could interest their users depending on their search history. Those who upload videos are those who have a channel. Once they upload something new, their viewers have access to them and can comment, like, and share the information. Concerning advertising on this website, it incorporates features that allow businesses to promote their videos for people who can be interested in what they offer. People make money on YouTube. We are not going to bore you with the details, but, success begins at one million subscribers. We are getting information that Youtube is adding a tool on its network that allows its users to sell content in the form of NFTs.
Possibility of owning unique videos
Weeks before this announcement, the platform made it clear that it plans on integrating the technology into its creator tools. According to the blog post made by Neal Mohan, he says that the platform will create tools that would include the selling of NFTs. You may be wondering how this will work. In his own words, “We believe new technologies like blockchains 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.” to add, this means that fans will have the possibility of owning unique videos, photos, art, and even experiences from their favorite creators.
More so, this new development seems to come with amazing packages. They will monetize short videos like those on TikTok. Creators will also be able to reply to comets using short videos so that they engage their users. Another option will be that creators can initiate collaborative live streaming. Notwithstanding, YouTube is not the only social media platform that intends to integrate NFTs. Twitter users can also display NFT features with special profile pictures on them.
To conclude, this is quite interesting news. However, the company has not yet clarified whether NFT ownership will conflict with the copyright law of the platform. We believe they are still working on that so that everything works out perfectly. Meanwhile, if you have found this article interesting and will like to read more of such an article, go to the Bit4you academy section. You can as well create an account and feel the vibe of trading in cryptos. An amazing team is waiting to help you with any difficulties you may face.
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Fenui Perpetua, Team bit4you.