Just weeks after YouTube’s CEO Susan Wojcicki released a statement outlining the platform’s intent to investigate how it can leverage blockchain technology, the content creation powerhouse has announced that it’s introducing a function which allows creators to sell their content to fans as NFTs. The addition to the platform comes as part of a new set of creator tools which intend to expand the monetization prowess of content creators.
In addition to fans essentially owning videos through buying YouTube video NFTs, the expanded set of creator tools will also allow users to verifiably own photos, art, and experiences which have been curated by their favourite creators.
YouTube’s chief product officer, Neal Mohan broke the news via a blog post on Thursday 10th February, where he stated: “We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans. Together, they’ll be able to collaborate on new projects and make money in ways not previously possible”.
As you may have suspected, buying a YouTube video NFT would only establish ownership over a specific digital asset, and not the copyrighted content that may be embedded into the video. In turn, this dynamic may cause conflicts with regards to copyright law, however, as of now, and perhaps in an effort to allow us to enjoy the exciting prospect without pondering its dull, legal complexities, YouTube are yet to address the issue.
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