TikTok announces with creator-led NFT collections
- ByStartupStory | October 2, 2021
TikTok, on Thursday, unveiled TikTok Top Moments, a new program that allows creators to be recognized and rewarded for their content. The NFT drops will be launched on Ethereum and powered by Immutable X, a new scaling solution for layer-two NFT protocol Immutable.
The six-piece NFT collection is inspired by trending videos created by Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante and Gary Vaynerchuk. For the series, the TikTok creators partnered with NFT artists— including COIN ARTIST, x0r, RTFKT, Grimes and more — to recreate their content as limited edition NFTs artworks.
Inspired by the creativity and innovation of the TikTok creator community, TikTok is exploring the world of NFTs as a new creator empowerment tool. NFTs are a new way for creators to be recognized and rewarded for their content and for fans to own culturally-significant moments on TikTok.
The creation that happens on TikTok helps drive culture and start trends that impact society. TikTok will bring something unique and groundbreaking to the NFT landscape by curating some of these cultural milestones and pairing them with prominent NFT artists
“Proceeds will largely go directly to the creators and NFT artists involved,” TikTok writes, but the company declined to break down specific percentages. TikTok says “a majority of the earnings will go to the creators of the NFTs. The rest will go to Immutable X, which handles NFT trading for the set, and the Museum of the Moving Image, which will be hosting a TikTok exhibit displaying the six main pieces in the TikTok collection. TikTok will not take any proceeds from sales, and says that the weekly drops of limited edition NFTs will “be sold at accessible price points to ensure each creator’s audience can own a piece of their history.” Proceeds from the Brittany Broski and Grimes collaboration will go to charity.
October 6 marks the start of the sale, but the videos will also be presented at the Museum of the Moving Image in Queens, NY from October 1 through November 5 in a collection entitled Infinite Duets: Co-Creating on TikTok.
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