TikTok Announces Release of NFT Collection

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Social network TikTok has recently announced the release of non-fungible tokens (NFT) with the participation of popular content authors.

The Top Moments collection will include six “culturally significant TikTok videos” from Lil Nas X, Bella Poarch, Brittany Broski, Curtis Roach and more

They will also team up with COIN ARTIST, x0r, RTFKT, Grimes and more create additional limited edition NFTs.

The tokens will be issued on the Ethereum blockchain and run on L2 scaling solution Immutable X. The proceeds from the sale will be directed to authors and artists.

The release is scheduled for next October 6. Six unique videos will be on display at the Museum of the Moving Image in Queens, NY, from October 1 to November 5.

In late September, fintech company Ripple announced a $250 million fund for digital artists and developers in the non-fungible token segment.

In the same month it became known about the plans of the US National Football League and startup Dapper Labs to launch an NFT marketplace.