YouTube Plans to Verify NFTs

YouTube plans to verify NFTs and watch video games in the Metaverse.
“We will be working hard to add more interaction to the games and make them more authentic,” explained YouTube.

YouTube has announced on Thursday its plans for Metaverse and Blockchain for 2022. It said that it could use the latest technology to cut down on fraud in the rapidly growing digital art market and provide an enhanced social experience for video games.

YouTube Plans to Verify NFTs for Live Streaming and Video Gaming

YouTube Plans to Verify NFTs

The most extensive streaming service that is operated through Alphabet Inc’s Google has, over the last year, attempted to attract users by providing more information on the upcoming features, despite increasing competition by ByteDance’s TikTok as well as Instagram. From Meta Platforms Inc.

The month before, YouTube said it was investigating what its proponents refer to as Web3 technologies like Non-fungible Tokens ( NFTs ), including video clips, art, or other digital assets linked to blockchain technology for record-keeping.

YouTube has gone further in a blog entry on Thursday, suggesting that it might help make NFTs more secure bets.

NFT sales soared in 2013, but the critics have argued that frauds, copyright theft, and other illegal behavior are not uncommon.

It offers ways to confirm the authenticity of content using the library of videos as an option to include in its offerings, YouTube said.

” A verifiable method for users to own videos, artwork, photos, and even exclusive experiences by their favorite creators is an appealing proposition for both the creator and the audience,” the blog noted.

YouTube has also emphasized the metaverse, a component in the Web3 movement that describes virtual worlds shared by people where people interact with avatars.

YouTube claimed that it doesn’t have concrete plans yet; however, one possibility is to let users watch videos in a virtual world. It will concentrate its efforts on content related to ” video games, ” where we’ll work on bringing more interactivity to games and making them appear more accurate” as per the website.

ByteDance released a mobile app to connect with people in the Metaverse last month. Meta is investing hundreds of billions in virtual and immersive reality technologies.

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