Incoming YouTube CEO, Neal Mohan, is bullish on Web3 and NFTs. His sentiments on the technology and its innovations recently surfaced after he took over the top job at the social media platform following the resignation of Susan Wojcicki. She had been in office since 2014 before announcing she was leaving via a blog post earlier in February.
However, Susan is in full support of her replacement, Mohan, who previously served as Chief Product Officer at YouTube. His appointment bodes well for Web3 proponents as he is a strong believer in the technology and how it could potentially improve various industries.
Now many can’t help but wonder if YouTube could launch its own Web3 initiative in the near future. If the platform went this route, it could be major for the entire industry, as the social media giant only ranks second to Google, its parent company, when it comes to monthly users. According to Statista, between September and November of last year, YouTube averaged over 74 billion visits per month.
YouTube CEO Is In Love With Web3 And NFTs
Over the years as the chief product officer, Mohan has kept an open mind when it came to the evolution of the internet. It’s the reason he has been able to keep YouTube on top through its offerings, such as YouTube TV and YouTube Music. Wojcicki notes that the new CEO understands YouTube both as a business and as a platform where most communities congregate.
Therefore, his opinion on Web3 is quite interesting given his experience in spotting the next big thing. Last year, in a blog post, he disclosed that YouTube was keen to explore Web3 technology and how it could integrate it on its platform. This could either be by “making YouTube more immersive” through the Metaverse route or by utilizing NFTs to offer creators new ways to bond with their audiences.
“We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans.”
He continues, “There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well.”
For instance, NFTs can be used as a “verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators.” Thus, allowing creators and audiences to collaborate in new ways.
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Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.
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