In Brief:
- Tiktok launches the NFTs collection of the famous TikTok influencer on an Immutable X, layer two scaling solution of the Ethereum Blockchain
- These NFTs contains the work of Lil Nas X, Gary Vaynerchuk, Grims and more
One of the biggest social media platforms, Tiktok steps into non-fungible tokens (NFTs) by revealing the collection of the NFTs, in which famous content creators Grimes, Lil Nas X, Bella Poarch, and more will feature.
The company has released TikTok Top Moments with the help of StarkWare. In this program, creators will get recognition for their content and receive rewards for viral content. Â
The NFT drops will be set on Ethereum in support of Immutable X. Immutable is the layer -2 scaling solution. Immutable X allows their users for lower transaction fees and faster transactions.
In this collection, Six Tiktok videos from the platform’s most influential creators. The revenue which will be generated in the sale of the NFTs will directly transfer to content creators and NFT artists.
In the last few months, Tiktok is gradually moving towards blockchain technology to expand its business and reach. The company has recently announced a partnership with Audius, which is a blockchain streaming platform. This integration will allow Audius users to export songs created on the protocol to Tiktok.
At present, Tiktok has around 1 billion active users and a very big portion of these users are based in the United States, which is gradually increasing day by day. Since launching its services on the mainnet in October 2020, Audius’ user base has reached 5 million.
