With the proliferation of NFTs, various platforms are now looking to explore the trend by making it easy to display NFTs and by developing their own digital artworks to be shared within their communities.
TikTok is all about digital art, and in its latest collection ‘TikTok Top Moments’, the platform is introducing a new way for people to own digital art pieces created by some of TikTok’s most popular stars.
TikTok Top Moments is a curated selection of six culturally significant TikTok videos from well-known creators on the platform. These creators, who are renowned for their artistic influence, have collaborated with some of the most notable NFT artists on limited edition NFTs that will involve a redeemable value offered by the creator.
Earlier this year, Twitter released a batch of digital artworks. Afterward, TikTok followed the trend and became the latest social platform to launch its own branded NFT collection. What’s different about TikTok is that the proceeds go to the creators directly to benefit them.
“The purpose of creating TikTok NFTs is to help creators reach their goals in the evolving content creation world. TikTok NFTs are digital tokens that recognize and reward creators for their content and TikTok fans for their cultural significance.”
New NFTs will be released during this month, and they will be limited to only a few hundred units. Each NFT will be auctioned off once it has been released.
“These limited edition NFTs will be sold at an affordable cost to make sure each creator’s fans can own a piece of their history.”
Besides the fact that NFTs are being sold for thousands, even millions of dollars, NFTs are valuable because, unlike traditional art pieces, they will eventually become valuable over time. In this case, the value of these pieces will accrue over time.
To note that it’s very hard for someone outside the crypto/NFT sector to get the process and some specific descriptions such as: “…minted and traded with zero gas fees on Immutable’s Layer-2.”
There’s a lot to understand in this respect, but to start with the basics: NFTs are digital artworks that can be owned by one individual. They are stored on the Ethereum blockchain (generally) to make sure they are managed with a unique identity for each piece.
Similar to traditional art, you buy a painting by a well-known artist and have complete control over how that work is used and displayed (however, via commercial use it is limited unless it is included in the purchase).
When you are purchasing an NFT, know that you’re buying more than just art. It’s an investment, and a status symbol combined, highlighting the rise of NFTs, as digital collectors are following the trend, and showing off their pieces online.
This explains why Instagram and Twitter are working on new NFT displays options so that users can easily buy items on their profiles. Given that TikTok is also following the trend, it is predicted that shortly, TikTok will integrate NFT displays options into users’ profiles too.
TikTok Top Moments is where it is all starting. Its goal is to become a more direct monetization option for creators, allowing them to easily transfer their best clips into sellable NFTs, increasing their options to generate income from their efforts.
It’s too early to tell how their popularity will hold up, but TikTok could be a smart way to help creators make money without disrupting their existing platform.
You can stay up to date with the NFTs and TikTok Top Moments Collection on Lexyom’s Legal News Page.
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