YouTube creators are now considering selling their videos as NFTs, or non-fungible tokens. These tokens could be used for a number of different purposes, such as renting out the video on decentralized platforms like OpenSea that allow fans to earn revenues from ad sales and subscriptions in exchange for watching the content.
The “selling nft” is an interesting idea that was proposed by YouTube. The company wants to allow creators to sell their videos as NFTs to fans. This would allow for the creator to earn money from their content and also build a community around it.
YouTube has announced the launch of a feature that enables artists to sell their content to fans as NFTs, only weeks after CEO Susan Wojcicki made a statement stating the platform’s desire to examine how it may harness blockchain technology. The addition to the platform is part of a new set of creative tools aimed at increasing content providers’ monetization capabilities.
In addition to allowing fans to effectively own videos by purchasing YouTube video NFTs, the extended set of creator tools will also let users to verifiably own photographs, art, and experiences curated by their favorite creators.
“We think emerging technologies like blockchain and NFTs may empower artists to develop stronger ties with their fans,” YouTube’s chief product officer, Neal Mohan, said in a blog post on Thursday, February 10th. They’ll be able to work together on new ventures and generate money in ways they couldn’t before.”
As you would expect, purchasing a YouTube video NFT only gives you ownership of the digital asset itself, not any copyrighted material that may be contained in the video. As a result, this dynamic may result in issues with copyright law; however, YouTube has yet to address the issue, presumably in an attempt to let us to enjoy the thrilling idea without having to think about its tedious, legal complications.
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