Market

TikTok “Trends” NFT

The social media platform TikTok has announced its first foray into the non-fungible token (NFT) market with a new collection inspired by its new fashion pioneers.

On Thursday the company did announced TikTok Top Moments, a new program that recognizes and rewards content creators for their content. NFT drops are implemented on Ethereum and operated by Immutable X – a new scaling solution for the NFT Layer 2 Immutable protocol.

Source: TikTok

Tik Top Moments has curated six TokTok videos from the most influential creators on the net. Each video celebrates the influence these creators had to make Tik Tok one of the largest social networks in the world.

The company says the proceeds from sales go directly to content creators and NFT artists.

Tik Tok seems to be slowly turning to blockchain technology as part of its overall business strategy. Recently, the company partnered with blockchain live streaming platform Audius for a new feature called TikTok Sounds. The integration enables Audius users to transfer songs created on the protocol to TikTok.

NFT has become a major driver for blockchain adoption, with businesses and individuals looking to capture digital collections. August was the busiest month on record for the emerging industry, with NFT totaling $ 4 billion in revenue.

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Annie

According to Cointelegraph

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.