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Benzinga

Technology

Anusuya Lahiri

YouTube Talks Metaverse, Blockchain Plans Firing Up Rivalry With Facebook

Meta Facebook Google ByteDance Alphabet Inc Instagram TikTok

Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) YouTube looks to start creating metaverse experiences on its video platform, beginning with gaming, amid increasing competition with ByteDance Inc's TikTok and Meta Platforms Inc's (NASDAQ:FB) Instagram.
YouTube elaborated on its blockchain and metaverse plans for 2022, saying it could harness emerging technologies to cut fraud in the fast-growing digital art market and offer gaming content a more social viewing experience.
YouTube suggested making NFTs safer bets, Reuters reports.
YouTube said that offering ways to verify the legitimacy of assets using its video library would be one feature possibility.
YouTube also has prioritized the metaverse.
In January, ByteDance launched a mobile app for gathering in a metaverse, and Facebook parent Meta is spending billions of dollars on virtual and augmented reality technology.
Price Action: GOOG shares traded lower by 1.73% at $2,779.13 on the last check Thursday.

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