Social media platform TikTok has introduced its first foray into the NFT market with a brand new assortment impressed by its main trend-setters.
On Thursday, the corporate introduced 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 shall be launched on Ethereum and powered by Immutable X, a brand new scaling resolution 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. Each is meant to rejoice the affect of those creators in making TikTok one of many largest social networks on the planet.
The corporate mentioned 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 know-how as a part of its total enterprise technique. As Cointelegraph not too long ago reported, the corporate has partnered with blockchain streaming platform Audius round a brand new characteristic referred to 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 U.S. viewers counting on the app to find new artists and songs. Since launching its mainnet companies in October 2020, Audius’ consumer 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 file for the nascent business, with complete NFT gross sales hitting $4 billion.