TikTok has partnered with several celebrities to release a collection of NFTs.
TikTok's NFT collection
The short-form video platform has joined forces with the likes of Lil Nas X, Bella Poarch, and Grimes for the range of upcoming non-fungible tokens, which will be known as TikTok Top Moments.
The series of NFTs will be inspired by six “culturally significant” TikTok videos, and the company is planning to auction them alongside a selection of limited edition NFTs it’ll sell weekly throughout October.
Musician and rapper Lil Nas X’s NFT – which is a collaboration with artist Rudy Willingham – will be going up for auction on October 6, with further collaborative efforts to be released later this month.
According to The Verge, Grimes is teaming up with Brittany Broski, also known as “Kombucha Girl”, for one NFT, while she will also star in a second alongside social media star and singer Bella Poarch.
TikTok said a majority of the earnings from the auctions will go to the creators of the NFTs, but a percentage will also go to Immutable X, which handles NFT trading for the set, and the Museum of the Moving Image, which will be hosting a TikTok exhibit displaying the six main pieces in the TikTok collection.
TikTok will not take any proceeds from sales, and says that the weekly drops of limited edition NFTs will “be sold at accessible price points to ensure each creator’s audience can own a piece of their history”.