Social media platform TikTok has introduced its first foray into the nonfungible token, or NFT, market with a brand new assortment impressed by its main trend-setters.
On Thursday, the corporate announced TikTok Prime Moments, a brand new program that enables content material creators to be acknowledged and rewarded for his or her content material. The NFT drops will probably be launched on Ethereum and powered by Immutable X, a brand new scaling solution for layer-two NFT protocol Immutable.
TikTok Prime Moments is claimed to characteristic a choice of six TokTok movies from the community’s most influential creators. Every one is meant to have a good time the impression of those creators in making TikTok one of many largest social networks on the planet.
The corporate stated that proceeds from the gross sales will go on to the content material creators and NFT artists.
TikTok seems to be slowly pivoting in the direction of blockchain expertise as a part of its total enterprise technique. As Cointelegraph lately reported, the corporate has partnered with blockchain streaming platform Audius round a brand new characteristic known as TikTok Sounds. The combination permits Audius customers to export songs created on the protocol to TikTok.
TikTok has roughly 1 billion customers, with its United States viewers counting on the app to find new artists and songs. Since launching its mainnet companies in October 2020, Audius’ person base has grown to five million.
NFTs have emerged as a serious driver of blockchain adoption, with companies and people eager to embrace digital collectibles. August was the busiest month on document for the nascent trade, with total NFT sales hitting $4 billion.