YouTube is launching new creator tools to expand monetization, including allowing creators to sell content as NFTs so fans can "own" videos.
Weeks after suggesting that the platform would branch out into NFTs, or nonfungible tokens, YouTube announced plans to integrate the burgeoning technology into its creator tools. In a blog post Thursday, YouTube's chief product officer, Neal Mohan, wrote that the expanded creator monetization tools would include selling NFTs.
Mohan’s blog post said Web3, an umbrella term for the third phase of the internet based on transparency ledgers like blockchains, “opens up new opportunities for creators.”
"We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans," Mohan said. "Together, they'll be able to collaborate on new projects and make money in ways not previously possible."
The expanded tools will give a "verifiable way" for fans to "own unique videos, photos, art and even experiences" from their favorite creators, he wrote.
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