YouTube Has a new CEO; Creators/Artists Might Get to Offer NFTs

• Neal Mohan was named as YouTube’s new CEO after Susan Wojcicki’s resignation.
• Wojcicki will continue to advise Alphabet, Google’s parent firm.
• YouTube could soon offer NFT-based features.

Neal Mohan, a pro-Web3 executive has been named as YouTube’s new CEO after Susan Wojcicki resigned last week on February 16. 

Wojcicki announced her intention to start a “new chapter” focused on family, health, and independent work when she left YouTube after nine years. During her tenure, she presided over the implementation of the revenue-sharing scheme. She will continue to advise Alphabet, Google’s parent firm.

Before becoming CEO, Mohan served as YouTube’s Chief Product Officer, overseeing the controversial removal of the video dislike button as well as the introduction of YouTube Music and YouTube Shorts to rival TikTok.

Mohan urges artists to use Web3 and NFTs

Neal Mohan believes that the Web3 ecosystem will be very important in the future, and that creators could benefit from it. He wants them to use blockchain and cryptocurrency to establish a shared connection with their audience. YouTube hasn’t yet released any NFT feature yet.

On Twitter, some Non Fungible Token (NFT) critics expressed some uncertainty or dread in response to the news of the nomination of a new CEO. Tweeters were eager to spread the word about the new CEO’s preference for the cryptocurrency industry. 

Why the emphasis on NFTs

When it was revealed that Mohan will be the new CEO of YouTube, there was some FUD floating on Twitter reportedly generated by the vociferous NFT detractors. In February 2022, Mohan shared ideas on integrating number of new features into NFT based features YouTube much to the dismay of the anti-NFT community. These ideas include the tokenization of content using NFTs among others.

According to Mohan, NFTs in particular may give creators an opportunity to engage in an enhanced way with their followers and develop new revenue streams. He provided instances of how creators could tokenize their experiences, works of art, pictures, and films.

In a blog entry from February 10, 2022, he wrote:

“Web3 also opens up new opportunities for creators. 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.”

Why was Mohan criticized

When the company decided to remove the video dislike option, Mohan came under fire from tech content producers like MKBHD. YouTube will incorporate features like metaverse-based content experiences and content tokenization through NFTs under Mohan’s direction.

Mohan’s focus on NFTs and Web3 in general can be perceived as a calculated move by Google, the parent company of YouTube, which is investing big bucks in Web3 research. With Mohan as CEO, the platform’s product offerings should advance more quickly.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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