YouTube has announced its plan to explore the emerging NFT, Metaverse and Web3 technology.
The company stated it is keen to explore NFTs in a bid to broaden its services.
YouTube joins the growing bandwagon of social media companies actively exploring the Metaverse technology to attract a wider user base and expand their scope of services to accommodate the potential Web3 technology.
YouTube explores Metaverse and NFTs
According to Chief Product Officer of YouTube, Neil Mohan, exploring NFTs and Web3 applications can help content creators to connect with their audience deeply and help fans own "verifiable" merchandise to establish genuine bonds. He said:
The blog further added that YouTube believes in the potential of Web3 technology and will explore responsible ways to integrate the emerging Web3 tech in near future. It said:
YouTube to venture into Metaverse gaming
YouTube is also planning a metaverse move into gaming, as per the latest blog post update. The video streaming giant is all set to explore the Metaverse technology adding that the company will be first experimenting with the concept of the Metaverse by integrating it into the sector of gaming. The post added:
Last month, YouTube's CEO, Susan Wojcicki hinted at exploring the domain of NFTs adding that it might bestow the organization with the necessary power to capitalize on emerging technologies. Wojcicki also emphasized how YouTube can channel the power of NFTs to help creators and audiences and establish additional streams of revenue for creators and artists.
