YouTube names a Web3-friendly executive as its new CEO

by Feb 19, 2023CryptoNews0 comments

YouTube’s new CEO, Neal Mohan, stated that NFTs might be a valuable tool for the platform’s content providers in developing new revenue streams. With the retirement of Susan Wojcicki this week, Google-owned YouTube has hired Web3-friendly executive Neal Mohan as its new CEO toward YouTube Web3.

Wojcicki left YouTube on February 16 after nine years as CEO, announcing plans to begin a “new chapter” focused on family, health, and personal initiatives. Among other things, she handled the critical implementation of the revenue-sharing model throughout her tenure. She will continue to serve as an advisor to Alphabet, Google’s parent firm.

Mohan formerly worked as YouTube’s chief product officer, supervising the contentious removal of the video dislike button and the launch of YouTube Shorts to compete with TikTok and YouTube Music.

YouTube Web3

In terms of Web3, Mohan unveiled preliminary plans in February 2022 to integrate a slew of new features, including metaverse-based content experiences and content tokenization using nonfungible tokens (NFTs), much to the chagrin of the NFT-hating community.

Mohan, in particular, underlined that NFTs might give a new opportunity for creators to communicate with their audiences while also developing new revenue sources. For example, he mentioned the possibility for artists to tokenize their movies, images, art, and experiences.

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“Web3 also provides new chances for creators. We think emerging technologies such as blockchain and NFTs will enable creators to interact more closely with their followers. “They’ll be able to cooperate on new ideas and generate money in ways never before feasible,” he stated in a blog post on February 10, 2022.

YouTube Web3 Release Time

Although planned to launch last year, the Web 3-related initiatives have yet to materialize. Still, given that Mohan is now managing the corporation, they may be given another push soon.

With the announcement of Mohan as the new CEO of YouTube, there has been remarkably little FUD from the feisty NFT doubters on Twitter, who are generally eager to trash anything related to rumors of mainstream links to the tech.

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