“Locator tag” likely refers to Bluetooth trackers (think AirTag, Tile) that in this context support Google Fast Pair.
A few days ago, some … interesting concept renders were posted online of a hypothetical Google-made tracker called the G Spot. While it was made as a joke, there’s some truth to the slide where it says it’d use Fast Pair!
We not saying this thing exists or that it’ll be called G Spot (there’s no way lmao). All we pointing out is that Fast Pair now recognizes trackers/”locator tags” as a separate device type, which indicates Fast Pair-supporting Bluetooth trackers are on the way.
And yes, there’s already evidence that Google’s working on an Android equivalent to the Find My network.