YY is a major

Chinese Chinese may refer to: * Something related to China * Chinese people, people identified with China, through nationality, citizenship, and/or ethnicity **Han Chinese, East Asian ethnic group native to China. **'' Zhonghua minzu'', the supra-ethnic ...

video-based

social network A social network is a social structure consisting of a set of social actors (such as individuals or organizations), networks of Dyad (sociology), dyadic ties, and other Social relation, social interactions between actors. The social network per ...

, a subsidiary of JOYY. It features a

virtual currency Virtual currency, or virtual money, is a digital currency that is typically unregulated, issued and usually controlled by its developers, and used and accepted electronically among the members of a specific virtual community as part of a virtua ...

which users earn through activities such as

karaoke is a type of interactive entertainment system usually offered in nightclubs and bars, where people sing along to pre-recorded accompaniment using a microphone. Its musical content is an instrumental rendition of a well-known popular song. 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, television shows and films digitally on request. These multimedia are accessed without a traditional video playback device and a typical static broadcasting ...

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."
''

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) is a Chinese video live streaming platform under HUYA Inc. (NYSE: HUYA), one of the largest of its kind in China. HUYA Inc. is headquartered in Guangzhou and is a subsidiary of Tencent Holdings Limited. HUYA Inc. ...

. 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

* 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