TikTok is launching an official NFT collection

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A stop-motion video for rapper Lil Nas X will be the first item on the bill.

TikTok will release a collection of non-fungible tokens (NFTs) that will include media from the platform’s most popular content providers.

Lil Nas X leads the NFT Lineup

TikTok members’ content will be included in the NFTs. The first item will be available on Oct. 6, and it will include Rudy Willingham’s stop motion video for Lil Nas X’s song “Montero.”

Bella Poarch, Curtis Roach, Brittany Broski, FNMeka, Jess Marciante, and Gary Vaynerchuk will contribute to future NFTs. Additionally, collaborations with other NFT superstars like Grimes, COIN ARTIST, x0r, and RTFKT will be part of the NFTs.

According to Nick Tran, TikTok’s Global Head of Marketing, these NFTs allow fans to own a moment on TikTok that helped build the internet while supporting some of their favorite creators.” TikTok is also eager to watch how [people] connect with some of the internet’s most cherished cultural moments, according to him.

NFTs will be available for purchase every week

Immutable X, a layer-2 scaling solution, will power the NFTs, produced on the Ethereum blockchain.

The NFTs will be dropped weekly until the end of the month, according to TikTok; after that, the NFTs can be minted and exchanged without any gas charges (i.e., transaction fees).

TikTok Top Moments will be the name of the compilation. TikTok claims that most of the revenues will go to the creators and NFT musicians, while it will probably make money.

Other social networks create NFTs

TikTok isn’t the first social media site to launch its own set of non-fungible coins.

Twitter distributed a batch of 140 free NFTs in June, which later appreciated on secondary markets. Around the same time, Reddit launched its brand of NFTs dubbed CryptoSnoos.

Meanwhile, Facebook’s Novi wallet is allegedly planning to enable NFT transactions, while there is no evidence that it would produce its own NFTs.

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