TikTok is joining hands with creators and artists like Lil Nas X, Rudy Willingham, Bella Poarch, and Curtis Roach to issue its first non-fungible token (NFT) collectibles. TikTok Top Moments from the Bytedance-owned app will feature six original NFT videos from creators. The TikTok creators will work with established NFT creators like Coin Artist, x0r, RTFKT, Grimes, and others for limited-edition NFTs. TikTok says the returns from the sale of these NFTs will go directly to the creators and artists.
TikTok announced the launch of the collection of NFTs called TikTok Top Moments via a post on its community page. The social media app said that the TikTok Top Moments will feature six culturally significant TikTok videos as NFTs featuring artists and creators including Lil Nas X, Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante, and Gary Vaynerchuk. The sale will start on October 6. Each TikTok video in the collection will also be shown at the Museum of the Moving Image in Queens, New York starting October 1 till November 5.
The sale of single-edition NFTs will be made available on the Ethereum blockchain, while the limited-edition NFTs will be powered by Immutable X that will handle the trading of the collection. A series of weekly drops will take place through the end of the month. After the period, the NFTs can be minted and traded with "zero gas fees" on the Immutable X Layer-2.
Lil Nas X will be the first celebrity to launch his one-of-one with artist Rudy Willingham. Grimes will pair with Brittany Broski (‘Kombucha Girl') first then with Bella Poarch. Gary Vaynerchuk will collaborate with Jess Marciante.
According to TikTok, the earnings from the NFT sales will largely go directly to the TikTok creators and NFT artists involved. However, the proceeds from the first NFT made with Brittany Broski and Grimes' collaboration will go to a charity.
TikTok is not the first social platform to launch its NFT collections. Twitter in July this year selected 140 recipients for NFTs based on the group of people who responded to the main tweet announcing the giveaway through Rarible. Also, Twitter founder and CEO Jack Dorsey auctioned the first-ever tweet on the platform in March 2021.