Popular YouTubers and entrepreneurs Jimmy ‘MrBeast’ Donaldson and Olajide ‘KSI’ Olatunji have invested in Xcad Network, a monetization platform and NFT marketplace for YouTube.
While the financial details are unknown at the time of writing, Xcad Network have welcomed both of the content creators as investors as they aim to help the next generation of YouTubers better monetize their content.
This news quickly follows a funding round held by the company, in which they raised $3.9m to begin with the building of their platform. They’re set to announce more popular creators as investors in the coming days.
The involvement of both KSI and MrBeast is thought to be seen as a major endorsement of the platform and the mission that’s driving those behind it, though it’s unknown if they’ll be involved in selling products on the marketplace once it’s launched.
Xcad Network will construct a plugin for YouTube that allows “content creators to tokenize themselves” and helps viewers to earn rewards from watching and engaging with their content. This functionality will be available directly on the Google-owned video platform.
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“The Xcad Network will enable greater engagement amongst YouTubers and their viewers, providing the ability to monetize activity via a tokenized economy that rewards users for engagement and viewer loyalty,” said Xcad Network co-founder Joel Morris.
“Mass adoption is the end goal here, KSI & Mr Beast investing is one giant step towards that goal.”