YouTube floats ideas of verifying NFTs to cut fraud in digital market

REUTERS/Lucy Nicholson/Files

YouTube on Thursday elaborated on its blockchain and metaverse plans for 2022, saying it could harness the emerging technologies to cut fraud in the fast-growing digital art market and offer a more social viewing experience for gaming content.

The world’s largest streaming service, which is owned by Alphabet Inc’s Google, over the past year has sought to hang onto users with better guidance about upcoming features amid increasing competition with ByteDance Inc’s TikTok and Meta Platforms Inc’s Instagram.

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