TikTok Will Release Ethereum-Powered NFTs With Lil Naz X, Grimes And More

TikTok is releasing its first-ever collection of NFTs featuring content from its six most influential creators.

What Happened: In an announcement Thursday, TikTok revealed a collection of tokenized digital collectibles that will be released in a drop called “TikTok Top Moments.”

The NFTs will be launched on the Ethereum ETH/USD blockchain and powered by layer-2 NFT protocol Immutable X. Immutable X claims NFTs traded on it are “100% carbon neutral.”

“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,” said the company on its drop site.

See Also: Holy NFT! DC Comics To Distribute Free NFTs Of Favorite Characters, Could Be One Of World's Largest Drops

Why It's Important: TikTok is the fastest growing social media platform, having recently crossed 1 billion monthly users worldwide. It intends for its NFT collection to empower its top content creators and plans to reward the NFT artists and content creators with most of the proceeds from the sale.

The drop goes live on Oct. 6 and will feature six “culturally significant” TikTok videos. Lil Nas X will be the first NFT drop, followed by creators like Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante, and Gary Vaynerchuk.

These creators can then partner with Grimes, COIN ARTIST, and x0r to create more limited edition NFTs.

Price Action: At press time, Ethereum was trading at $3,110 gaining 4.14% over 24 hours.

Photo: Solen Feyissa on Unsplash