YouTube Is Working on Making NFTs Safer for Digital Content Ownership

Google subsidiary YouTube is severely engaged on non-fungible tokens (NFTs) and exploring the way it can supply customers possession of digital content material. On Thursday, February 10, YouTube additional elaborated its blockchain and metaverse plans for this 12 months of 2022.

YouTube famous that it could harness the rising tech of NFTs to chop down on fraud within the quickly rising digital artwork market. Moreover, YouTube believes that utilizing the NFT know-how, it could supply a extra social viewing expertise for gaming content material.

YouTube CEO and its head of gaming overtly expressed their curiosity in non-fungible tokens (NFTs). It appears to be like as if the crew is making all efforts in utilizing NFTs for its platform enlargement.

Moreover, NFTs can most likely assist YouTube to achieve an edge in video sharing over its opponents out there reminiscent of TikTok and Meta.

Google Exploring Internet 3 and NFT Tech

In its weblog publish, Youtube mentioned that it has been exploring main developments within the Internet 3 area and NFT appears to be promising. Non-fungible tokens (NFTs) may help in tagging distinctive video artwork clips, artwork and different digital property and preserve their possession over the blockchain community.

In its weblog publish on Thursday, Youtube urged that it could make NFTs a safer wager. The sale of NFTs skyrocketed final 12 months in 2021 with the market registering multi-billion greenback buying and selling volumes. Nevertheless, the market continues to be within the nascent stage, there have been incidents reported about NFT scams and copyright thefts.

YouTube mentioned that it’ll handle this concern first-hand by providing methods to legitimize property. YouTube mentioned utilizing its video library could be one of many function prospects. It additional noted:

“Giving a verifiable method for followers to personal distinctive movies, photographs, artwork, and even experiences from their favourite creators may very well be a compelling prospect for creators and their viewers”.

Together with NFTs, YouTube can also be exploring one other Internet 3 alternative within the Metaverse area.