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November 30, 2024
Crypto

YouTube appoints Web3-friendly exec as new CEO

By akohad Feb18,2023

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Google-owned YouTube has appointed Web3-friendly exec Neal Mohan as its new CEO following the departure of Susan Wojcicki this week.

Wojcicki stepped down from YouTube on Feb. 16 after nine years at the helm, outlining plans to start a “new chapter” focused on family, health and personal projects. During her tenure, she oversaw the pivotal introduction of the revenue-sharing model, among other things.

Moving forward she will remain an advisor for Google’s parent company Alphabet Inc.

Before becoming the new CEO, Mohan served as YouTube’s chief product officer and oversaw the controversial removal of the video dislike button, the introduction of YouTube Shorts to compete with Tik Tok, and YouTube Music.

In terms of Web3, Mohan outlined tentative plans in February 2022 to integrate a host of new features such as Metaverse-based content experiences and content tokenization via nonfungible tokens (NFTs), much to the dismay of the NFT-hating community at the time.

In particular, Mohan emphasized that NFTs could provide a new way for creators to engage with their audiences and develop additional revenue streams. He cited the potential for creators to tokenize their videos, photos, art and experiences as examples of such.

“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,” he wrote in a blog post on Feb. 10, 2022.

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Despite being intended to potentially roll out last year, the Web 3-related plans are yet to materialize but could be set for another push in the near future given that Mohan is now leading the firm.

Following the news of Mohan becoming the new CEO of YouTube, there has been a surprisingly limited amount of FUD from the feisty NFT skeptics on Twitter who are usually quick to flame anything to do with reports of mainstream connections to the tech.