TikTok is Exploring NFT Space

July 13, 2022

Non fungible tokens (NFTs) and social media go well together. NFT creators are utilizing social media to promote their work. Social media work as a place where NFT enthusiasts and artists can promote, sell, and buy NFTs. Therefore, it is no surprise that more social media networks are experimenting with NFTs

TikTok which has over a billion monthly users globally is joining the wave last October. Social media network has planned their own NFT drop in collaboration with their best creators. TikTok has announced its NFT debut in the New York Times.

TikTok TopMoments began in the fourth quarter of 2021, offering a new approach to digital art trends. The Social media platform is planning to use the NFT space to empower the TikTok creator community. In addition to giving recognition and compensation to artists and its content creators, NFTs enable fans to own culturally significant TikTok events.

TikTok trends are in one way, or another influencing the culture and setting trends that impact society. TikTok wanted to attract something fresh to the NFT space by curating some pop-culture milestones and combining them with established NFT artists.

TheValue of TikTok Getting into NFTs

When considering the current advancements in blockchain and rising consumer interest in digital assets, many Web 2 tech companies are penetrating the market.TikTok’s foray into blockchain by offering NFTs on the Ethereum blockchain contrasts with Facebook’s future goals. It is most comparable with Twitter’s recent NFT drop in last June. Twitter has released a collection of 140 NFTs that matched its original character limit. TikTok has a different concept where it provides lucrative compensation to the creators involved.

The Blockchain community, which values decentralization, has welcomed TikTok’s approach of using a public blockchain. TikTok’s emphasis on iconic moments underscores the historical significance of NFT even more. TikTok’s Top Moments NFT signifies a single TikTok viral moment. As the NFT space evolves, the concept of historical value in collectability will be more prominent.