TikTok is partnering with its top creators and jumping into the nonfungible tokens (NFT) pool, with rapper Lil Nas X launching the social media site’s first series of limited-edition tokens this month, according to an announcement.
Lil Nas X will be joined by Rudy Willingham for the first release, followed by other TikTok creators partnering with the site to develop unique works for TikTok’s first NFT collection, TikTok Top Moments, the announcement stated.
“Each one-of-one NFT celebrates the impact these creators — including Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante and Gary Vaynerchuk — have made across entertainment, culture and the TikTok community,” according to the announcement.
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The featured creators will team up with celebrated NFT architects, including COIN ARTIST, x0r, RTFKT and others. The first launch of limited-edition NFTs with Lil Nas X and Rudy Willingham goes live Wednesday (Oct. 6) on the official TikTok Top Moments site, the announcement stated.
The overall NFT collection will feature six TikTok videos as one-of-a-kind NFTs as well as a sequence of limited edition NFTs inspired by cultural moments. TikTok Top Moments will be minted on the Ethereum blockchain and powered by the Immutable X platform. Resales will be locked until the last NFT drop completes, according to the announcement.
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Weekly drops of new NFTs will take place on a dedicated section of Immutable’s site through the end of October. After that, the NFTs can be minted and traded on Immutable X, the announcement stated.
“The creation that happens on TikTok helps drive culture and starts trends beyond the platform,” said TikTok Global Head of Marketing Nick Tran in the announcement. “As the creator economy continues to grow, we’re continually looking for new and differentiated ways to support our creators.”
Tran added that the company’s move into NFTs offers fans a moment on TikTok that “helped shape the internet” and supports their favorite creators.
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