TikTok has launched an official collection of NFTs. The lineup will feature media from varied content creators together with Lil Nas X and Grimes. TikTok’s first NFTs will go on sale starting Oct. 6.
TikTok will launch a collection of non-fungible tokens or NFTs that includes media from its most popular content creators.
Lil Nas X Leads NFT Lineup
The NFTs will include content from TikTok members. The primary merchandise will probably be bought on Oct. 6, and it’ll function Rudy Willingham’s cease movement video for the tune “Montero” by the rapper Lil Nas X.
Future NFTs will include content from Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante and Gary Vaynerchuk. The NFTs will even contain collaborations with different NFT celebrities including Grimes, COIN ARTIST, x0r, RTFKT.
TikTok’s World Head of Advertising, Nick Tran, mentioned that these NFTs imply that “followers can own a second on TikTok that helped form the web whereas supporting some of their favorite creators.” He added that TikTok is “excited to see how communities have interaction with some of the internet’s most beloved cultural milestones.”
NFTS Will Go On Sale Weekly
The NFTs will be created on the Ethereum blockchain and will be powered by Immutable X, a layer-2 scaling solution.
TikTok suggests that the NFTs will be dropped weekly through the end of the month; later, the NFTs can be minted and traded with no gas prices (ie. transaction charges).
The gathering will be sold under the title TikTok Top Moments. TikTok says that proceeds will “largely go directly to the creators and NFT artists,” although it would presumably collect revenue as well.
Other Social Networks Create NFTs
TikTok shouldn’t be the primary social media platform to introduce an official line of non-fungible tokens.
In June, Twitter launched a set of 140 free NFTs that later gained value on secondary markets. Reddit additionally launched its personal line of NFTs referred to as CryptoSnoos across the same time.
Facebook, meanwhile, is reportedly looking to support NFT transactions in its Novi wallet, although there isn’t an indication that it’s going to create its own lineup of NFTs.