TikTok Introduces A Creator-Led NFT Collection!

Tiktok has launched TikTok Top Moments, its first-ever NFT collection, including contributions from some of the app’s most popular creators.

The six-piece NFT collection is inspired by trending videos by Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante, and Gary Vaynerchuk. The TikTok creators collaborated with NFT artists such as COIN ARTIST, x0r, RTFKT, Grimes, and others to recreate their content as limited edition NFTs artworks for the series.

When Lil Nas X’s “Montero (Call Me By Your Name)” was initially released, creator and digital artist Rudy Willingham utilised the song to create a viral stop motion video. Willingham ramped it up for their first official collaboration by turning cutout photos of the artist into 81 frames, which were then taken against various coloured backgrounds and stitched together into one film.

TikTok NFT
Source: CNET

Why is TikTok entering the NFT landscape?

TikTok is exploring the world of NFTs as a new creator empowerment tool, inspired by the ingenuity and invention of the TikTok creator community. NFTs are a new way for TikTok fans to own culturally significant moments and for creators to be acknowledged and paid for their work.

TikTok’s creations contribute to the advancement of culture and the emergence of social trends.

By selecting some of these cultural milestones and pairing them with notable NFT musicians, TikTok will deliver something unique and groundbreaking to the NFT landscape.You may now own a TikTok moment that went viral.

“As the creator economy continues to grow, we’re continually looking for new and differentiated ways to support our creators,” said Nick Tran,the head of marketing “Now, fans can own a moment on TikTok that helped shape the internet while supporting some of their favorite creators.”

Source: Medium

What is Immutable X?

The TikTok Top Moments NFT sale is powered by Immutable X, which will enable gas-free trading on Ethereum Layer. It is Ethereum’s first Layer-2 scaling solution for non-fungible tokens (NFTs), allowing mainstream enterprises to generate and trade NFTs without paying gas fees while maintaining Ethereum’s security.

Immutable X, which was created in collaboration with StarkWare, provides fast trade confirmation, incredibly high throughput (up to 9,000 transactions per second), configurable royalty, and an excellent developer and user experience. It only trades carbon-neutral NFTs.

Each TikTok film in the NFT collection will be unveiled at Queens, New York’s Museum of the Moving Image. Infinite Duets: Co-Creating on TikTok is the title of the show, which will run from October 1 to November 5.

“Proceeds will largely go directly to the creators and NFT artists involved,” TikTok stated, but the company refused to break down specific percentages. The creators of the NFTs will receive the majority of the earnings. The rest will go to Immutable X, which manages the set’s NFT trading, and the Museum of the Moving Image, which will hold a TikTok exhibit including the collection’s six primary components. TikTok will not profit from sales, and the weekly releases of limited edition NFTs will “be sold at accessible price points to ensure each creator’s audience can own a piece of their history,” according to the company.