YouTube offers to check NFTs and watch games in the metaverse

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Feb 10 (Reuters) – YouTube laid out its blockchain and metaverse plans for 2022 on Thursday, saying it could leverage emerging technologies to reduce fraud in the fast-growing digital art market and provide a better viewing experience. more social for gaming content.

The world’s largest streaming service, which is owned by Alphabet Inc Google, has sought over the past year to hook users with better advice on upcoming features amid competition growing with ByteDance Inc’s TikTok and Meta Platforms Inc (FB.O) Instagram.

Last month, YouTube said it was exploring what proponents call Web3 technologies such as non-fungible tokens (NFTs), which are video clips, art, or other digital assets tied to the blockchain of record keeping technology. Read more

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YouTube went further in a blog post on Thursday, suggesting it could make NFT betting safer.

NFT sales soared last year, but critics said scams, copyright theft and other predatory behavior were all too common.

Offering ways to verify the legitimacy of assets using its video library would be a feature possibility, YouTube said.

“Giving fans a verifiable way to own videos, photos, artwork, and even unique experiences from their favorite creators could be a compelling prospect for creators and their audiences,” the blog said.

YouTube has also prioritized the metaverse, an element of the Web3 movement that describes shared virtual worlds where people typically interact through avatars.

YouTube said it has no firm ideas yet, but one possibility would be to allow users to watch videos together in a metaverse. Generally, it will focus on “gaming-related” videos for now, where we’ll be working to bring more interactions to games and make them feel more alive,” the blog post says.

ByteDance launched a mobile app for coming together in a metaverse last month, and Meta is spending billions of dollars on virtual and augmented reality technology.

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Reporting by Paresh Dave. Editing by Gerry Doyle

Our standards: The Thomson Reuters Trust Principles.

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