When YouTube Enters Into NFTs

Web2 companies are FOMO now. NFT changes the game of creating fields. Everyone can create their own art and sell it in the market. If there is a place where people can showcase their arts, users will join more than those who did not have such features.

TL;DR YouTube is about to release its plan to enter the NFT market. Creators can also enjoy their MFT creation showcase on their YouTube channel.

Here is a 1 min summary of the article if you want to skip the reading.

Centralized Social Media
Centralized social media controlled the contents. They provide a place for users to post their own content. However, they obtained data from the content creations and restricted sharing to others.

When Free Is Illusion There is no free content creating platform but rather a place creators offer their products free to earn a place to share with others. Creators only reward when their contents attract more users rather than an incentive to share their creations. And their rewards are little compared to social media companies who obtained invaluable data from users.

Web3 Is Coming Web2 companies are nervous. Web3 will free users for all and release data to their own hands. The old practice to control data will no longer be necessary and users will no longer depend on platforms to offer free services and lure them to offer their free data.

No Middle Man Creators do not need a middle man to offer service while spying on their behaviors and selling their data without them realizing it. Creators can control their own products and fully engage with their followers.

YouTube Enters NFT YouTube will allow NFT to showcase its platform. It is a significant move that Web2 has to adopt Web3 technology. The data will be released to creators and allow creators to fully control themselves.

In Conclusion Web2 companies are nervous. When users gain control of power, they have the power to refuse services from Web2 services providers. Web3 will give power back to users.

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