YouTube shared the plans it has for key areas, including NFTs, shorts, and the Metaverse

Neal Mohan, the Chief Product Officer of YouTube, recently talked about the plans the platform has for the ongoing year. He shared the areas that they believe have potential value for the application. According to Neal, the areas that are being studied by them include funding of creators, advanced changes for live stream shopping, non-fungible tokens, and the Metaverse as well.

Mohan went on with his overview and added that live streaming is an important focal area for the platform. This is because from January 2020 to December 2020, the watch time tripled. Hence, this area can be brought into more use through factors such as online live shopping.

YouTube has already tested out its live shopping ideas in collaboration with some big names, such as Mr. Beast and Gordon Ramsay, in 2021. The platform was able to gather more than two million views and almost 1.4 million chats on live messages. If YouTube uses this platform well, they can easily compete with TikTok, which is also working on a similar live shopping idea.

Another area in which YouTube is at work is shorts. Shorts are just like a clone of TikTok and are also catching up with its momentum gradually. So far, Shorts has been able to cross the five trillion mark with its overall views. YouTube is planning to bring in more tools for this short video project to let content creators give a more detailed product. These tools will be new video editing options or effects. The creator can also reply individually to the comments being added. Along with these tools, new monetization policies are also in the works.

Another key area is to work on merging shorts with the e-commerce market just like Douyin, the Chinese TikTok variant, has done. With the rise in popularity of NFTs, YouTube has eyed this area as well. The plan is to let viewers have unique media content, which could be a picture or a video, from their preferred content uploader.

With the announcement of Metaverse last year, Mohan added that the platform is also working to level up their gaming experience. The application plans to make the virtual experience appear more realistic.

Lastly, the advertising area is also on Neal Mohan’s list. According to him, televisions played a major role by becoming the fastest growing area by letting users watch YouTube content on big screens. The application is working to add more user-accessible features to maximize user engagement. Later, this area can be used for advertising purposes and can cover a major portion of the audience.

YouTube is well known for its monetization features, which allow creators to earn money by showing their efforts. While the platform is working to win other areas, this area also needs observation to ensure the position the app holds among other different platforms.

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