Social media platforms have had their foot on the gas lately, and now TikTok is digging in deeper. Earlier in the week, we took the first look at NFTs on Twitter. Now, a recent announcement from TikTok has shared that creator-curated NFTs are on their way, powered by Immutable X.
The move is another huge step forward for NFT integration in social media.
The Clock Is “Tik”-Ing
The press release from TikTok shows a heavy-hitting list of creators that will part of an initial creator NFT launch auction that will go live on October 6. Collaborative creators highlighted in the release include Lil Nas X, Bella Poarch, Gary Vaynerchuk, Grimes, and more.
The initial October 6 drop will include six 1-of-1 NFTs curated by pairs or trios of creators. The platform’s Global Head of Marketing Nick Tran said that with the announcement, “fans can own a moment on TikTok that helped shape the internet while supporting some of their favorite creators. We’re excited to see how our community and NFT communities engage with some of the internet’s most beloved cultural milestones.”
The platform has launched a dedicated site in partnership with Immutable X titled ‘TikTok Top Moments.’ Immutable X will use it’s Layer-2 Ethereum scaling to provide the NFTs with no gas fees. Immutable X also claims 100% carbon neutrality. In addition to the one-of-one moments, the site adds that “limited edition NFTs will drop weekly until the end of the month.”
Ethereum and projects built on Layer-2 have been dominant in the NFT world thus far. | Source: ETH-USD on TradingView.com
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Stepping It Up A Notch
TikTok’s first apparent and public-facing move into crypto was through a partnership with crypto-powered music platform, Audius. Audius boasts over 100,000 artists on the platform, including a substantial EDM presence. The platform offers governance and an open network, while still protecting artists, via it’s native platform token $AUDIO.
While it is a somewhat limited entrance into NFTs for TikTok, it shows a continued interest from the social media beast in engaging with crypto. It comes at a time of heightened interest, particularly with regards to social media platforms. Our recent report highlighted Twitter’s latest developments in building an NFT verification system. That came just days following the platform’s integration of it’s Bitcoin tipping feature.
Twitter avatars of NFTs have grown considerably as the market has picked up steam in recent months. TikTok, however, is likely to be a bit more conservative, as the platform took a stronger stance against crypto content from creators in July.
It’s great to see the platform still approaching crypto with open arms.
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Featured image from Pexels, Charts from TradingView.com
