TikTok bursts onto NFT scene with collection featuring rapper Lil Nas X, Grimes and more
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It’s NFT time for TikTok. With the launch of its first-ever collection of non-fungible tokens, the social-media beast is the latest big entity to delve into the potent crypto sub-sector.
Called TikTok Top Moments, the high-profile, six-piece collection features some of the platform’s leading influencers, including rapper Lil Nas X, Bella Poarch, Brittany Broski, Curtis Roach, Gary Vee and Elon Musk’s ex – Grimes. (Pretty sure he’s HODLing on to Floki, however.)
These prominent names, among others, have teamed up with some of the NFT world’s leading creators including x0r, RTFKT and… COIN ARTIST (what, couldn’t think of a suitably inscrutable and weird name?).
The NFT specialists have helped the trend-setting TikTokkers create one-of-one and limited-edition NFTs that will include “real-world redeemable value” provided by the creator.
— Lark Davis (@TheCryptoLark) October 1, 2021
Much like Lark (above), fellow YouTuber and founder of NFT platform SuperFarm (SUPER), Elliot Wainman, is super bullish about the news.
In his latest video, “EllioTrades”, as he’s better known to the cryptoverse, said that the NFT movement is the biggest thing to happen to crypto yet. And he’s been predicting and preparing for it all for quite some time now, shifting the majority of his content in that direction over the past year or so.
“This is where the tipping point happens,” he enthused. “NFTs, TikTok, Twitter, Instagram, Facebook, you name it – every major brand, actor, celebrity, musician, influencer, creator, community… they’re all going to be in NFT land soon. The tsunami of liquidity coming to this ecosystem will boggle your mind.”
TikTok launching NFTs is the appetizer to 100M new wallets coming into this ecosystem.
Hold onto your JPEGs my people, it's about to get wild.
Share and comment "And that's on periodt" with your ETH address to enter to win something tite https://t.co/bmLN4lZa3b
— Elliot Wainman (@elliotrades) September 30, 2021
According to a TikTok announcement, the one-of-one moments will be auctioned, while the limited-edition NFTs will be dropped weekly until the end of the month, and minted and traded with zero gas fees on Immutable X – Ethereum’s layer-2 scaling solution.
“The limited-edition NFTs will be sold at accessible price points to ensure each creator’s audience can own a piece of their history,” reads the statement.
Explaining why it’s decided to make its foray into the buzzy world of NFTs, TikTok emphasised that it provides a chance for its creators to be further recognised and rewarded for their content and for fans to own “culturally significant” creative pieces.
“Now, you can own a moment on TikTok that broke the internet,” reads the promo.
Fans and interested speculators looking to do just that will need to keep an eye on the official drop site for details of how, and when, to purchase the NFTs.
From today until November 5, each TikTok video in the NFT collection is being exhibited at the Museum of the Moving Image in Queens, New York. The exhibit is called Infinite Duets: Co-Creating on TikTok.