Saturday, December 2, 2023

Bankless Crypto YouTube Channel Banned From The Platform

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The Bankless crypto YouTube channel got banned from the platform as one of the most-popular ETH-focused podcasts announced, saying they didn’t even get a warning or a justification so let’s read more today in our latest cryptocurrency news.

Bankless claimed 150,000 subscribers to the ETH-focused newsletter and podcast channel on YouTube and said it got banned from the platform without warning. The channel boasted more than 10,000 hours of content and featured people like ETH founder Vitalik Buterin. Bankless was not the only one. Other education web3 crypto accounts like Gabriel Haines.eth and Optimism Collective were shut down too.

The Officials from Youtube were not available instantly to comment so the commentators took it to Twitter to support the channel and suggested we need web3 in order to prevent the organization from shutting down the channel via decentralization. The removal of the Bankless crypto Youtube channel, might not be permanent but it is a sign that YouTube found something questionable in the content. The social media giant shut down other channels in the past without having to explain and then being reinstated at a later time also without an explanation.

As recently reported, YouTube’s Chief Product Officer Neal Mohan published a blog post about the upcoming plans of the company and new products as well as features in 2022 citing interest in blockchain, NFT, and Web3. NFTs are digital tokens that exist on the blockchain network like Ethereum which are used to verify ownership over an asset and these NFTs usually point to ownership of an image, video, music, or now even virtual land. Mohan even mentioned the new features planned for the YouTube creators like Channel Guidelines, sorted comments, and chats for YouTube shorts.

it is possible that YouTube can integrate NFTs in a way that the holders of ac collection can gain access to a creator’s content or special badges during live streams. Selling videos or segments as NFTs can provide more monetization mechanisms for the creators. This is not the first time that a youtube executive hinted at Web3 features. CEO Susan Wojcicki said that the company is looking to expand the ecosystem and this expansion can include things like NFTS. In addition to Mohan and Wojcicki, the former head of YouTube Gaming Ryan Wyatt is bullish on Web3. He departed for Polygon Studios recently which is a company focused on building on the Ethereum sidechain.

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