Most viewed creators like Bella Poarch, Lil Nas X, Brittany Broski, and many more will be part of TikTok Top Moments.
TikTok Top Moment, as announced on Thursday, is the first NFT collection launched by the company. The new creator empowerment tool will allow creators to be recognized and rewarded for their content.
“Today we’re announcing our first-ever NFT collection, TikTok Top Moments, designed by some of our community-defining creators and inspired by the trending videos they created.”
NFTs will be available on Ethereum and will be fueled by Immutable X. The firm uses StarkWare’s technology to create the Layer-2 scaling solution for Ethereum, which is carbon neutral.
“The featured creators, renowned for their creative cultural impact, are partnering with prominent NFT creators, including COIN ARTIST, x0r, RTFKT, Grimes, and more, on limited edition NFTs.”
Most of the profits will go to the TikTok creators involved in the new project. Lil Nas X will be the first to launch his work in collaboration with artist Rudy Willingham.
“A series of weekly drops will take place through the end of the month, after which the NFTs can be minted and traded with zero gas fees on the Immutable X Layer-2.”
But what are NFTs?
NFTs, short for non-fungible tokens, are new types of crypto assets that indicate a variety of palpable or non-physical goods. The ownership of these tokens is recorded on a blockchain, similar to bitcoin and other cryptocurrencies. But unlike them, which are interchangeable, NFTs aren’t exchangeable.
And how do they work?
Most NFTs were created utilizing ERC-721 and ERC-1155 Ethereum token standards. Even though Ethereum is a fungible digital currency like Bitcoin, its blockchain sustains NFTs as well.
Internet growth in our everyday lives gave us the possibility to view images or listen to songs online for free. NFTs are becoming very popular because they are transforming the collectible space, and not only that.
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