The Intersection of YouTube, Cryptocurrency, and NFTs
- Web3 technology’s decentralized monetary aspects can easily be applied to the Web2 space.
- XCAD’s browser plugin for YouTube creates a system of incentives that complement YouTube’s existing business model.
- The platform’s token economy allows creators to issue their own tokens that fans can then use to access exclusive NFT offerings.
The distinction between Web2 and Web3 still seems incredibly stark in the eyes of many. The idea of combining the best aspects of both may seem like a pipedream at the current time, but this isn’t the case.
Take YouTube as an example. This platform is where creators earn via advertisements relative to their viewers. This system relies on a busy network of analysts and is subject to ongoing negotiations between centralized business interests competing for the same advertising real estate.
Forcing cryptocurrencies or NFTs into this picture would undoubtedly prove difficult, given the decentralized features of these technologies. However, if managed correctly, the decentralized monetary aspects of Web3 technology can be applied to the Web2 space.
XCAD’s browser plugin creates a system of incentives that complement YouTube’s existing business model while benefiting both video creators and their audiences.
XCAD’s token economy allows creators to issue tokens that fans can use to access exclusive NFT offerings, vote on the future direction of the creator’s platform, receive exclusive merchandise and social media interactions, and more. Holding onto creator tokens delivers audience members with ongoing engagement with their favorite creators, however, they can also be cashed out as a reward for the time the user has spent viewing the creator’s content.
The token XCAD can be staked to enable users to earn rewards for the time they spend viewing creator content. Both XCAD and creator tokens can be used to purchase NFTs minted by the creator. These NFTs can then be traded on XCAD’s NFT marketplace, where users can bid on the assets in sentimental or monetary terms.
By offering natural incentives, XCAD can implement Web3 technologies on YouTube and other Web2 video platforms in a natural, cohesive way.
XCAD brings viewers into the equation and compensates them for the time and support they give to their favorite creators. The marriage between Web2 and Web3 technologies is already in progress. The wedding bells are ringing. And XCAD is leading the ceremony.