February 11, 2022
YouTube expanded on its blockchain and metaverse plans for 2022. It plans to make use of the emerging technologies to eliminate fraud in the digital art market and provide a more social viewing experience for gamers.
In January, the social media giant said it was exploring so-called Web3 technologies, such as non-fungible tokens (NFTs), which are video clips, art or other digital assets connected to the record-keeping technology blockchain.
YouTube also indicated that it could make NFTs safer.
Sales of NFTs soared to new heights in 2021, but critics say fraud, copyright theft and other predatory behavior are rife.
“Giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect for creators and their audience,” YouTube said.
YouTube has also highlighted the metaverse, another feature of the Web3 movement that refers to shared virtual worlds where people interact via avatars.
In this context, YouTube brought into play the possibility of allowing users to watch videos together in a metaverse.
“Generally, it will focus for now on videos related to gaming, where we’ll work to bring more interactions to games and make them feel more alive,” the blog said.
For more information, read the original story in Reuters.
