“We believe that new technologies, like blockchain and NFTs, can allow creators to build deeper relationships with their fans.” These are the recent words of YouTube’s new CEO Neal Mohan. Encouraging Mohan’s appointing could mean a more mainstream introduction of NFTs in the world of web2.
YouTube’s previous CEO Susan Wojcicki commended Mohan for playing a pivotal role in the launch of products like YouTube TV and YouTube Music, stating he’ll be a “terrific leader.” She also pointed out Mohan’s priority for and ability to build communities. “He has a wonderful sense for our product, our business, our creator and user communities, and our employees,” Wojcicki wrote.
In case you were doubting just how popular YouTube is, its reach cannot be understated. From September to November last year, the website ranked only behind Google in terms of use, with 74.8 billion visits on average per month, according to Statista.
What’s so exciting about Mohan in this new role is his open mind about the evolution of the internet and its assorted platforms. Last year, he disclosed in a blog post that YouTube was looking at ways it could possibly integrate Web3 technology, whether by “making YouTube more immersive” by leveraging the metaverse or tapping technology like NFTs, unique digital tokens that are often used to assert ownership of online content.
In regards to the evolution of YouTube, “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 example, Mohan wrote that NFTs could be a compelling, “verifiable way for fans to own unique videos, photos, art, and even experiences from their favourite creators,” adding it would allow creators and audiences to collaborate in new ways.
YouTube has seen some prominent employees fully embrace Web3, such as its former Global Head of Gaming Ryan Wyatt, who left after seven years at YouTube to join Polygon Studios as CEO in February 2022 and has since shifted to serve as President at the rebranded Polygon Labs. “There’s a lot of similarities between YouTube and Polygon in the sense [that] it’s a platform, and you’re helping people onboard onto it,” he said. “It’s creators in all types, uploading gaming videos, all the way to now, [where it’s] games and projects being built” said Wyatt.
