YouTube Pledges to Make NFTs Safer for Creators and Fans Upon Launch

A few weeks after reports emerged suggesting that the world’s largest online video sharing platform will enter the blockchain, metaverse, and NFT world, the company has provided more details.

• With 2021 becoming the year of non-fungible tokens, all eyes were on such assets and the metaverse as of the start of 2022.
• Countless companies both from inside and outside the cryptocurrency realm continue to hop on board, and Alphabet’s YouTube was the latest to outline such plans, as CryptoPotato reported in late January.
• The video-sharing giant wanted to focus on expanding its 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.”
• In a more recent blog post, the company’s CPO – Neal Mohan – dug deeper, indicating that some forms of NFTs could be actually harmful to creators and fans due to scams or copyright theft.
• However, YouTube aims to make them safer:

• “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 audience.” – reads the post.

• YouTube also wants to allow its users to join the metaverse, with one possible idea circulating that they will be able to watch videos together.
• The company will most likely start with videos related to “gaming, where we will work to bring more interactions to games and make them feel more alive.”