YY is a major

Chinese Chinese can refer to: * Something related to China * Chinese people, people of Chinese nationality, citizenship, and/or ethnicity **''Zhonghua minzu'', the supra-ethnic concept of the Chinese nation ** List of ethnic groups in China, people of ...

video-based

social network A social network is a social structure made up of a set of social actors (such as individuals or organizations), sets of dyadic ties, and other social interactions between actors. The social network perspective provides a set of methods for ...

, a subsidiary of JOYY. It has over 300 million users. It features a

virtual currency Virtual currency, or virtual money, is a digital currency that is largely unregulated and issued and usually controlled by its developers and used and accepted electronically among the members of a specific virtual community. In 2014, the Europ ...

which users earn through activities such as

karaoke Karaoke (; ; , clipped compound of Japanese ''kara'' "empty" and ''ōkesutora'' "orchestra") is a type of interactive entertainment usually offered in clubs and bars, where people sing along to recorded music using a microphone. The music i ...

or creating tutorial videos and which is later converted to real cash. Launched in 2005 as duowan.com (), it originally targeted gamers, before broadening to include

video streaming Video on demand (VOD) is a media distribution system that allows users to access videos without a traditional video playback device and the constraints of a typical static broadcasting schedule. In the 20th century, broadcasting in the form of o ...

and chat features for uses such as concerts, fashion and sports. Users exchange "virtual roses" as a form of currency, with top users said to earn as much as $20,000 per month.Leydon, Joe
"Film Review: ‘People’s Republic of Desire’ : Documentarian Hao Wu examines a unique form of digital interaction in contemporary China."
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Variety Variety may refer to: Arts and entertainment Entertainment formats * Variety (radio) * Variety show, in theater and television Films * ''Variety'' (1925 film), a German silent film directed by Ewald Andre Dupont * ''Variety'' (1935 film), ...

'', 15 March 2018 In November 2012, YY was listed on the NASDAQ. The website was originally known as YY Voice ( zh, s=语音). On 24 November 2014, YY's video streaming service began operating independently as

Huya Live Huya Live ( zh, s=虎牙直播, p=Hǔyá Zhíbò) is a Chinese video live streaming service. The site is one of the largest of its kind in China, and also operates globally as Nimo TV. Similar to other streaming services like Loco, the site pri ...

. On 18 November 2020, MuddyWatersResearch released a report claiming fraud in the financial and public reporting of JOYY Inc. leading to a significant decrease in the value of its shares.

References

External links

*
VoaNews: The Largest Social Network You've Never Heard Of

Forbes: YY.com, China's Unique Real-Time Voice and Video Service with a Virtual Goods Twist

* ttps://www.npr.org/2014/12/15/370878848/yy-changes-its-tune-after-karaoke-is-a-hit NPR: YY Changes Its Tune After Karaoke Is A Hit Chinese social networking websites Video hosting Internet properties established in 2005 2005 establishments in China Chinese brands Chinese entertainment websites Video game streaming services Companies listed on the Nasdaq {{entertainment-website-stub