YouTube is taking NFTs very seriously and it is working on how it can offer users ownership of digital content with the company presenting its blockchain and metaverse plans for 2022, yesterday.
The company mentioned that it can tackle the emerging technology behind NFTs in order to decrease fraud levels in the expanding digital art market. YouTube also speculates that NFT technology will allow it to offer a better and more social viewing experience for content related to gaming.
Indeed, with rivals such as Meta and TikTok, NFTs could probably give YouTube an edge over them.
YouTube revealed that it is working on important developments in the Web3 space with NFT being especially a promising domain. NFTs can be used for tagging unique video art clips, art, and other digital assets and keep ownership over the blockchain network.
The company also declared that it wants to make NFTs a safer bet which is not a bad idea considering their popularity has increased beginning with 2021.
“Giving a verifiable way for fans to own unique videos, photos, art, and even experiences from their favorite creators could be a compelling prospect for creators and their audience.”