Google has recently registered a trademark for a very intriguing project named “Non-Fungible Planet.”

Google and its CEO Sundar Pichai have remained low-key amidst the harsh statements from its competitors regarding their own metaverse investments. 

The term “non-fungible” refers to irreplaceable items, hence the initiative is likely to annoy crypto enthusiasts.

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Crypto enthusiasts would undoubtedly assume its connection to cryptocurrency because being non-fungible is plainly evocative of non-fungible tokens.

NFTs are a method of acquiring digital material, such as a photograph or a GIF.

Google therefore intends to use “entertainment services, namely, providing non-downloadable playback of curated video playlists via the internet and other communications networks.”

The firm is also planning to provide “online non-downloadable videos featuring information in the fields of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts.”

The application was filed on Monday, March 21. Google does not say when the firm intends to put all this in place.

WHAT IS AN NFT?

A non-fungible token is a unique piece of data, which employs technology that allows digital content.

These can include videos, songs and images.

These are then logged on cryptocurrency blockchains.

Once the content is in the blockchain, every transaction from transfers to sales is recorded on the chain.

The aim of this accessible ledger of provenance and price history.

The idea of an NFT is to make it easy to own and sell digital content

Source: The Street

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