Market Analysis Report (11 Feb 2022)

The Chief Product Officer of Google-owned video-sharing platform YouTube, Neal Mohan, has published a blog post on new products and features being worked on this year, citing an interest in blockchain technology, non-fungible tokens, and Web 3.0.

In the post, Mohan mentioned some of the new features YouTube is planning on rolling out for creators this year, including a version of TikToks called YouTube Shorts. Mohan hinted at future Web 3. Integrations, noting NFTs can “allow creators to build deeper relationships with their fans” and further monetize their content on the platform.

Mohan exemplified how NFTs could be used on the platform, by giving “a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect.” Mohan added:

“There’s a lot to consider in making sure we approach these new technologies responsibly, but we think there’s incredible potential as well.”

YouTube CEO Susan Wojicki has last month also hinted that the platform is looking to expand to add Web 3.0 features.