YouTube has detailed its NFT and metaverse plans, saying it could use emerging technologies to reduce fraud in the fast-growing digital art market and provide a more social viewing experience for gaming content.
The world’s largest video service, owned by Alphabet Inc (or Google), said it wanted to better guide users on upcoming features as it ramped up competition with TikTok and Instagram last year. YouTube is now known to work for both the metaverse and NFT.
YouTube pushes for NFT and metaverse
YouTube last month; He said he is researching Web 3.0 technologies, driven by proponents of blockchain-attached immutable tokens (NFTs). YouTube went even further in its latest blog post, suggesting that it could bring NFTs to its platform.
NFT sales have grown massively over the past year, but critics say fraud, copyright theft and other dangerous behavior are rampant. YouTube said it believes it can verify the legitimacy of assets using its video library.
In its blog post, YouTube said, “We can provide a verifiable way for fans to have unique videos, photos, artwork, and even experiences from their favorite creators.” said.
YouTube also said it prioritized the metaverse, where people interact with avatars, in its Web 3.0 research. The company stated that it does not have a definitive study on the metaverse yet, but it can allow users to watch videos together on the metaverse.
“We see many interesting applications such as NFT to help manage the community of common interests. Providing better crowdfunding for creators; We want to help artists print and sell their work for future sales. We think YouTube can add a lot of unique value to what people are already doing in this space.”
But YouTube’s Chinese competitor ByteDance launched a metaverse app last month, and as you know, Meta spends billions of dollars on virtual and augmented reality technology.
What do you think about YouTube being so excited to enter the NFT and metaverse space? You can share your views with us in the comments section and on the SDN Forum.
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