TikTok is the latest to jump into the NFT rush. Today, the video-sharing social networking site launched a non-fungible token (NFT) collection that will see its top content creators partner with top NFT creators. TikTok fans will be able to buy their favorite ‘moments,’ and the platform has even created its own digital auction for the sale.
According to the announcement, TikTok Top Moments will feature six “culturally significant TikTok videos.” Lil Nas X, an American rapper, will be the first creator to launch one-of-one/limited-edition TikTok NFTs with artist Rudy Willingham. TikTok will sell their NFTs on Oct. 6. The videos will also be presented at the Museum of the Moving Image in New York from Oct. 1 through Nov.5 in a collection entitled ‘Infinite Duets: Co-Creating on TikTok.’
TikTok’s NFTs will be minted on Immutable X, a layer-2 scaling solution that runs on the Ethereum blockchain, but this isn’t the first time TikTok has entered the crypto space. Last month, the company partnered with the crypto music service Audius.