YouTube revealed its blockchain and metaverse plans for 2022, saying that it will use the new age technologies to reduce fraud in the digital art market and to enrich its users’ and creators’ experiences.
Youtube has been trying to maintain users with good guidance about forthcoming features amid intensifying contests with TikTok and Instagram and other tech giants.
Plan to verify NFTs
Recently YouTube announced that it was analyzing Web3 technologies such as non-fungible tokens (NFTs) which relates to digital assets recorded on a distributed database called Blockchain.
Various things like, Art, music, GIFs, videos, and even a selfie can be converted into an NFT. YouTube believes that the integration of blockchain and NFTs in the existing ecosystem would give a chance to its fans and designers to do partnerships on special projects and make money in a way that was not possible earlier.
Officials said that, “Together, they’ll be able to collaborate on new projects and make money in ways not previously possible. For example, giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favourite creators could be a compelling prospect for creators and their audiences.”
It has brought up new tools for users which will provide more opportunities to earn money on the virtual platform.
Fans can own videos because they can now sell content in the form of NFTs. These newly introduced tools will offer fans a verifiable way to own unique media from their favorite creators.
Plans to watch games in the Metaverse
YouTube has said that it will begin developing metaverse experiences on its video platform. It’ll start with gaming followed by competitors’ investments in the buzzy category.
Google owned company officials accentuated that, “We’ll work to bring more interactions to games and make them feel more alive,” Neal Mohan, YouTube’s chief product officer, said Thursday in a blog post. “It’s still early days, but we’re excited to see how we can turn these virtual worlds into a reality for viewers.”
It would harness the tech to offer a more social viewing experience for gaming content and help connect artists with their audiences ‘on a deeper level’. While it doesn’t have any firm ideas yet, it is possible that users will be able to watch videos together in a metaverse.
Its focus right now remains on videos related to gaming, where it will introduce interactive features to “make them feel more alive.”