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These are YouTube's plans for the Metaverse and NFTs

 


The video platform YouTube explained its blockchain and metaverse plans for 2022 on Thursday. Among other things, the goal is to leverage emerging technologies in the areas of Web 3.0, NFT and Metaverse to discourage fraud in the fast-growing digital art market and provide a more social viewing experience for game content. YouTube apparently sees a need for action because the competition is not sleeping. On the contrary, TikTok and Instagram are becoming more and more popular. 


NFTs are set to play an important role on YouTube in the future. NFT sales have skyrocketed over the last year. Nevertheless, critical voices are also increasing, since fraud, copyright theft and trademark infringements are too common. Regardless, YouTube plans to implement new tools in its video library.


A verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be an interesting prospect for artists and their audiences


, according to the blog of YouTube's Chief Product Officer Neal Mohan.


YouTube and the Metaverse: New Opportunities for Creators

After pointing out that it's often difficult for creatives to come up with new content ideas or figure out what will thrive on the platform, Mohan points to Web 3.0 technologies like NFTs as a possible solution. The metaverse is also a big topic for YouTube. Mohan admitted that there are currently no concrete ideas. However, he sees one possibility in allowing users to watch videos together in a metaverse. 


In general, it will be focused on game-related videos for now, where we will work to bring more interactions into the games to make them feel more alive


, the blog continues. Other companies also have ambitious plans for the Metaverse. ByteDance launched a mobile app for meeting in a Metaverse last month, and Meta is spending billions of dollars on virtual and augmented reality technology.

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