Skip to content

TikTok ventures into NFTs in partnership with celebrities like Lil Nas X, Bella Poarch

TikTok ventures into NFTs in partnership with celebrities like Lil Nas X, Bella Poarch

Short video sharing platform TikTok is getting into the non-fungible tokens (NFTs) scene with the planned launch of its first collection of digital collectibles. 

In a blog post, TikTok indicated that the collectibles are under the TikTok Top Moments’ brand and will be based on six “culturally significant TikTok videos” from top creators.

The social media platform intends to auction the collectibles and select limited edition NFTs for the planned October weekly sales.

The platform notes that the initiative is part of the company’s commitment to helping creators achieve their goals to leverage the growing creator economy. 

TikTok will also partner with several creators, celebrities, and online entities. Some of the partners include Lil Nas X, Bella Poarch, Grimes, Rudy Willingham, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante, and Gary Vaynerchuk. 

Partners for TikTok NFT venture. Source: TikTok.

Musician Lil Nas X will go up first on October 6th, partnering with artist Willingham. Elsewhere, Grimes will Collaborate with Brittany Broski. The NFTs will then be minted and traded with zero gas fees on the Immutable X Layer-2.

TikTok to leverage Ethereum network

The NFTs will be built on the Ethereum network powered by Immutable X, which deploys StarkWare’s technology that creates the first carbon-neutral Layer-2 scaling solution for Ethereum.

The weekly drops of limited edition NFTs are set to be sold at accessible price points as a means of ensuring every creator’s audience has a chance of owning the art. 

“Proceeds will largely go directly to the creators and NFT artists involved, providing TikTok and NFT fans and enthusiasts with a way to show support to the creators they love,” TikTok said.

TikTok noted that it would not hold any proceeds from the sales.

The developments add momentum to the growing NFT scene, considering that TikTok is a formidable mainstream platform to venture into the sector. 

[coinbase]

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

IMPORTANT NOTICE

Finbold is a news and information website. This Site may contain sponsored content, advertisements, and third-party materials, for which Finbold expressly disclaims any liability.

RISK WARNING: Cryptocurrencies are high-risk investments and you should not expect to be protected if something goes wrong. Don’t invest unless you’re prepared to lose all the money you invest. (Click here to learn more about cryptocurrency risks.)

By accessing this Site, you acknowledge that you understand these risks and that Finbold bears no responsibility for any losses, damages, or consequences resulting from your use of the Site or reliance on its content. Click here to learn more.