Video-focused social networking service TikTok will release its first collection of non-fungible tokens (NFTs) on 6 October, the company officially announced.
Announcement
TikTok has recently announced that it will take part in the crypto industry, through NFTs. It made this historical announcement on its website on 30th September. The website mentioned that TikTok seeks to get more creative as NFTs will empower the creators too.
The short video-sharing platform, which recently crossed 1 billion global users, said its NFT collection, dubbed TikTop Top Moments, will feature content from six “culturally” important videos from creators. Some of those names included Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, FN Meka, Jess Marciante, and Gary Vaynerchuk.
NFT Sale To Start Next Week On Ethereum Blockchain
TikTok also mentioned in the announcement that its first non-fungible token collection will be launched on the Ethereum blockchain. Ethereum has been the favorite place for NFTs as we also saw recently that the TIME Magazine NFT collection was also released on the ETH network. The release of this NFT congested the entire network.
The NFT is described as, “a hypnotic kaleidoscope of colour and sound that caught the attention of millions.”
Since the initiative was launched to support content creators for their unique work, the proceeds from the sales will largely be given to the creators and the NFT artists involved.
Ethereum has been the favorite place for NFTs as we also saw recently that the TIME Magazine collection was also released on the ETH network. The release of this NFT congested the entire network.
