TikTok is joining hands with creators and artists like Lil Nas X, Rudy Willingham, Bella Porch and Curtis Roach to issue its first non-fungible token (NFT) collectible. The ByteDance-owned app will feature six original NFT videos from the creators in TikTok Top Moments. Tik Tok Creators will work with established NFT creators such as CoinArtist, X0R, RTFKT, Grimes and others for limited-edition NFTs. TikTok says that the returns from the sale of these NFTs will go directly to the creators and artists.
TikTok announced the launch of a collection of NFTs called TikTok Top Moments via a post on its community page. The social media app said TikTok Top Moments will feature six culturally significant TikTok videos in the form of NFT, featuring artists including Lil Nas X, Rudy Willingham, Bella Porch, Curtis Roach, Brittany Brosky, FNmeca, Jess Marciant and Gary Vaynerchuk. And the producers will be involved. The sale will start from 6th October. Each TikTok video from the collection will also be shown at the Museum of the Moving Image in Queens, New York, from October 1 to November 5.
The sale of single-edition NFTs will be made available on the Ethereum blockchain, while limited-edition NFTs will be powered by the immutable X which will handle the trading of the collections. There will be a series of weekly drops by the end of the month. After the period, NFTs can be mined and traded on the immutable X Layer-2 with “zero gas fees”.
Lil Nas X will be the first celebrity to launch his one-of-one with artist Rudy Willingham. Grimes will first pair with Brittany Broski (“Kombucha Girl”) then with Bella Porch. Gary Vaynerchuk will collaborate with Jess Marciant.
According to TikTok, the proceeds from the sale of NFTs will largely go directly to the TikTok creators and the NFT artists involved. However, proceeds from the first NFTs, carried out in collaboration with Brittany Brosky and Grimes, will go to a charity.
TikTok is not the first social platform to launch its NFT collection. Twitter selected 140 recipients for NFTs in July of this year, based on a group of people who reacted to the main tweet announcing the giveaway through Rarible. Also, Jack Dorsey, the founder and CEO of Twitter, auctioned the first tweets on the platform in March 2021.