TikTok embraces NFTs with creator-led assortment
Social media platform TikTok has introduced its first foray into the nonfungible token, or NFT, market with a brand new assortment impressed by its main trend-setters.
On Thursday, the corporate announced TikTok Top Moments, a brand new program that permits content material creators to be acknowledged and rewarded for his or her content material. The NFT drops will likely be launched on Ethereum and powered by Immutable X, a brand new scaling resolution for layer-two NFT protocol Immutable.
TikTok Top Moments is alleged to characteristic a number of six TokTok movies from the community’s most influential creators. Each one is meant to rejoice the impression of those creators in making TikTok one of many largest social networks on the planet.
The firm mentioned that proceeds from the gross sales will go on to the content material creators and NFT artists.
Related: Immutable raises $60M for its carbon-conscious NFT platform
TikTok seems to be slowly pivoting in the direction of blockchain expertise as a part of its general enterprise technique. As Cointelegraph just lately reported, the corporate has partnered with blockchain streaming platform Audius round a brand new characteristic known as TikTok Sounds. The integration permits Audius customers to export songs created on the protocol to TikTok.
TikTok has roughly 1 billion customers, with its United States viewers counting on the app to find new artists and songs. Since launching its mainnet providers in October 2020, Audius’ consumer base has grown to five million.
NFTs have emerged as a serious driver of blockchain adoption, with companies and people eager to embrace digital collectibles. August was the busiest month on file for the nascent trade, with whole NFT gross sales hitting $4 billion.