TikTok launches its first NFT collection
The platform will use content from some of its main creators for digital collectibles. The list includes Lil Nas X, Grimes, Bella Poarch, Rudy Willingham and Gary Vaynerchuk.
According to the TikTok announcement, published on Thursday (30), the initiative will be called ‘TikTok Top Moments’.
“Inspired by the creativity and innovation of the TikTok creator community, we are exploring the world of NFTs as a new creator empowerment tool. Today we are announcing our first NFT collection. TikTok Top Moments was designed by some of our community-defining creators and inspired by the trending videos they created.”, the company said
As the platform highlighted, the initiative’s goal is to help creators achieve their goals in this growing economy.
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According to TikTok, NFTs will provide a way for creators to be recognized and rewarded for content. At the same time, fans will be able to have a “culturally significant moment on TikTok”.
NFTs will be made available on the Ethereum blockchain and will be powered by Immutable X. It is a Layer 2 platform for NFTs on Ethereum.
According to TikTok, Immutable X uses StarkWare technology to create the first carbon neutral solution.
In all, the collection will feature six “culturally significant” TikTok videos from some of the best-known creators.
According to TikTok, proceeds from the sale will largely go directly to the NFT creators and artists involved.
“As the breeder economy grows, we look for new and different ways to support breeders. We’re excited to see how our community and NFT communities engage with some of the most beloved cultural landmarks on the Internet,” said Nick Tran, TikTok’s global head of marketing.
Sales start on October 6th with a Lil Nas X collection and continue until the end of the month.