TikTok is launching an NFT collection for artists and creators in its community, known as TikTok Top Moments. It is a place where creators can launch and host their culturally significant NFTs, get rewarded and recognized for their work by their fans.
According to the press release announcing the move, the platform currently has videos from artists like Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, first robot rapper FNMeka who has over 10 million fans on TikTok, Jess Marciante, and Gary Vaynerchuk. They are partnering with prominent NFT creators like Grimes and Coin Artists.
“The creation that happens on TikTok helps drive culture and starts trends beyond the platform,” Said Nick Tran, Global Head of Marketing, TikTok in the press release. “As the creator economy continues to grow, we’re continually looking for new and differentiated ways to support our creators. Now, 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.”
Basically, it is more meaningful for anyone with anything trendy on the Internet. Users will now be able to own those moments right on TikTok by converting them to be NFTs and auctioning them. The press release announced that Lil Nas X will be the first to launch his limited edition NFT on the platform on October 6, alongside Rudy Willingham. Further NFT launches will follow at the end of the month. Fans can watch for these moments on the dedicated TikTok Top Moments website.
For fans, the collection will enable them to directly support creators and NFT artists they follow, without the NFTs and the fun moments ever leaving the platform. The innovation is expected to bolster innovation and creativity on the platform while making NFTs easy and low-cost to create for the users. For instance, it will be possible for TikTok users to trade the NFTs with zero gas fees after this month.
The solution is hosted on Ethereum blockchain and uses the blockchain’s layer-2 scaling solution for NFTs known as Immutable X. The carbon-neutral scaling solution enables people to create and trade NFTs on the Ethereum blockchain. While NFTs are becoming the trend now, it makes sense for the social media company to launch the collection as social media is where most artists and celebrities have a huge following.