TikTok embraces NFTs with creator-led collection

The NFT launch features prominent TikTokers including Lil Nas X, Bella Poarch, Curtis Roach, Brittany Broski and others.

Social media platform TikTok has announced its first foray into the NFT market with a new collection inspired by its leading trend-setters.

On Thursday, the company announced TikTok Top Moments, a new program that allows content creators to be recognized and rewarded for their content. The NFT drops will be launched on Ethereum and powered by Immutable X, a new scaling solution for layer-two NFT protocol Immutable.

TikTok Top Moments is said to feature a selection of six TokTok videos from the network’s most influential creators. Each one is intended to celebrate the impact of these creators in making TikTok one of the largest social networks in the world.

The company said that proceeds from the sales will go directly to the content creators and NFT artists.

TikTok appears to be slowly pivoting towards blockchain technology as part of its overall business strategy. As Cointelegraph recently reported, the company has partnered with blockchain streaming platform Audius around a new feature called TikTok Sounds. The integration allows Audius users to export songs created on the protocol to TikTok.

TikTok has roughly 1 billion users, with its U.S. audience relying on the app to discover new artists and songs. Since launching its mainnet services in October 2020, Audius’ user base has grown to 5 million.

NFTs have emerged as a major driver of blockchain adoption, with businesses and individuals keen to embrace digital collectibles. August was the busiest month on record for the nascent industry, with total NFT sales hitting $4 billion.

from https://ift.tt/39S6mf9
https://ift.tt/2Y4wBfE

Comments

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community. Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...

How Social Platform Chingari is Using Web 3.0 to Transform the Traditional Way We Use Social Media

The world is changing. This isn’t news to anyone, but sometimes it is nice to realize that—contrary to news headlines—not all the change is bad. In fact, the last decade has seen so much innovation and so many improvements to technology that even 2015 seems like a different world. Internet speeds, connecting with anyone globally (for free), and our ability to reach large groups of people without a middleman is nothing short of revolutionary. When it comes to technology evolution, this often happens with different iterations. Once a system is mature, there’s a better idea of what we would like to change and improve. We go back to the drawing board, target our creative minds at the issues, and create a new version that has evolved to better meet our needs. The Internet has followed this model since its inception, evolving through three distinct stages. We are only at the cusp of the third stage, called Web 3.0, with technologies such as blockchain and ...

INX submits bid for Voyager Digital's assets

FTX US won a $1.4-billion bid to purchase Voyager’s assets in September, but with the firm filing for bankruptcy, the funds were once again up for grabs. Trading platform INX has submitted a bid for an undisclosed amount to purchase the assets of crypto brokerage firm Voyager Digital. In a Nov. 30 announcement, INX said it had sent a non-binding letter of intent for Voyager’s assets following the platform filing for bankruptcy in July. According to INX CEO Shy Datika, the bid was aimed at providing “credibility, technology, and unique regulatory positioning” for Voyager users seeking stability in a volatile market. Voyager’s original bankruptcy filing from the Southern District Court of New York suggested the firm could owe between $1 billion to $10 billion to more than 100,000 creditors amid a bear market and exposure to Three Arrows Capital. In September, FTX US won a $1.4-billion bid to purchase Voyager’s assets, but with FTX Group itself filing for bankruptcy in November, th...

Crypto Coin Search

Search This Blog