June 27, 2022

TikTok Is Launching A Creator-Curated NFT Collection

2 min read

Social media platforms have actually had their foot on the gas recently, and now TikTok is digging in deeper. Previously in the week, we took the very first look at NFTs on Twitter. Now, a current announcement from TikTok has actually shared that creator-curated NFTs are on their method, powered by Immutable X.

The move is another substantial step forward for NFT combination in social networks.

The Clock Is “Tik”-Ing Journalism release from TikTok shows a heavy-hitting list of developers that will part of a preliminary developer NFT launch auction that will go live on October 6. Collective developers highlighted in the release include

Lil Nas X, Bella Poarch, Gary Vaynerchuk, Grimes, and more. The preliminary October 6 drop will include 6 1-of-1 NFTs curated by pairs or trios of developers. The platform’s Global Head of Marketing Nick Tran said that with the announcement, “fans can own a minute on TikTok that helped form the web while supporting some of their preferred creators. We’re delighted to see how our neighborhood and NFT communities engage with some of the web’s most beloved cultural milestones.”

The platform has introduced a dedicated website in partnership with Immutable X titled ‘‘ TikTok Top Moments.’ Immutable X will utilize it’s Layer-2 Ethereum scaling to supply the NFTs without any gas charges. Immutable X also declares 100% carbon neutrality. In addition to the one-of-one minutes, the site adds that “restricted edition NFTs will drop weekly till the end of the month.”

 Ethereum and projects built on Layer-2 have been dominant in the NFT world so far.|Source: ETH-USD on TradingView.com

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Stepping It Up A Notch TikTok’s first obvious and public-facing move into crypto was through a collaboration with crypto-powered music platform, Audius. Audius boasts over 100,000 artists on the platform, consisting of a significant EDM existence. The platform uses governance and an open network, while still safeguarding artists, via it’s native platform token $AUDIO.

While it is a somewhat limited entryway into NFTs for TikTok, it shows a continued interest from the social media beast in engaging with crypto. It comes at a time of increased interest, especially with regards to social media platforms. Our current report highlighted Twitter’s latest developments in constructing an NFT verification system. That came simply days following the platform’s combination of it’s Bitcoin tipping feature.

Twitter avatars of NFTs have actually grown significantly as the marketplace has actually gotten steam in current months. TikTok, nevertheless, is most likely to be a bit more conservative, as the platform took a stronger position versus crypto content from developers in July.

It’s fantastic to see the platform still approaching crypto with open arms.

Related Reading|Bitcoin Miner Revenue Feels Impact From Crypto Bloodbath

Included image from Pexels, Charts from TradingView.com