By Samuel Indyk
Investing.com –TikTok has become the latest company to venture into the world of NFTs (non-fungible tokens), announcing a new creator-led NFT collection.
TikTok Top Moments
The video social networking platform has introduced its first ever NFT collection, named TikTok Top Moments, designed by some of the platform’s most well-known creators.
The initial collection features a selection of six TikTok videos from some of the most popular creators.
Each one-of-one NFT celebrates the impact these creators - including Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante and Gary Vaynerchuk – have made across the entertainment, culture, and the TikTok community, the company said in a statement.
Proceeds from the NFT sales will largely go directly to the creator and NFT artists involved, providing TikTok and NFT fans and enthusiasts with a way to show support for their favourite creators.
The company will be launching the NFTs on the Ethereum blockchain and will be powered by Immutable X.
TikTok said that a series of weekly drops will take place through the end of the month, after which the NFTs can be minted and traded with no gas fees on the Immutable X Layer-2.
TikTok’s entry into the NFT market could be significant with the video app claiming last week that it now has more than 1 billion monthly active users.