TikTok has announced that it is launching a new collection of NFTs called TikTok Top Moments that is inspired by its own top creators and that it will use NFTs as a tool for more creator empowerment.
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The announcement says that TikTok NFTs will "provide a way for creators to be recognized and rewarded for their content, and for fans to own a culturally-significant moment on TikTok."
The NFTs will be issued using the Ethereum blockchain via Immutable X, a layer 2 for NFTs on Ethereum allowing for cheaper transactions. The TikTok Top Moments will feature a selection of six "culturally significant" TikTok videos from celebrities and creators like Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Gary Vaynerchuck and more.
The TikTok creators will partner with established NFTs creators like COIN ARTIST, x0r, RTFKT, Grimes and others for limited edition NFTs. Money from sales of these NFTs will go directly to the creators and artists.
The first launch will be a Lil Nas X NFT and will take place on October 6th on what TikTok is calling its dedicated "drop site" that will serve as a marketplace for TikTok creator NFTs. There will be a series of weekly drops on the drop site for the remainder of the month, after which anyone will be able to mint and trade NFTs Immutable X's layer 2 for zero gas fees.
This story is developing.