TikTok has officially entered the NFT chat and wants you to be able to own a moment on TikTok that broke the internet. There were doubts about its entry into the NFT arena, with news the roll-out was messy and may not have even happened at all – A Lil Nas collection was reportedly shelved, however now it seems things are moving forward for TikTok. The first drop has been announced in collaboration with Curtis Roach.
TikTok’s strategy sees the platform transforming its biggest moments into unique high ticket NFT’s. Few videos define the pandemic in a light, relatable way like Curtis Roach’s “Bored in the House”. The song and video was sampled by millions on TikTok and ended up launching the Detroit rapper into TikTok sensation and subsequent internet fame that has now resulted in a serious music career. Despite the seriousness of the pandemic, “Bored in the House” became a global anthem for dealing with isolation.
It’s not the first time viral moments have been sold as NFT’s, however unlike the owner of ‘Charlie Bit My Finger’, TikTok is not seeking to simply auction off his video, the Curtis Roach NFT drop sees TikTok team up with COIN ARTIST to create a fresh take on his famous video, to be released as a 1 of 1 in partnership with Immutable X.
TikTok’s announcement page says the ByteDance owned company has been “inspired by the creativity and innovation of the TikTok creator community, and is exploring the world of NFTs as a new creator empowerment tool”. While traditional visual artists have mostly benefited from NFTs so far, TikTok see’s them as a new way for it’s creators to be recognized and rewarded for their content and for fans to be able to truly own some culturally significant moments born on TikTok.
The announcement page goes on to say the creativity that TikTok enables has the power to drive culture and create trends that can impact society, and TikTok seeks to bring something unique and innovative to the NFT landscape by curating iconic TikTok moments through pairing them with established NFT artists.
TikTok Top Moments features a selection of six culturally-significant TikTok videos from some of the most beloved creators on the platform. These featured creators, renowned for their cultural impact, have partnered with prominent NFT artists on one-of-one and limited edition NFTs. The one-of-one NFTs will be auctioned on Layer-1. The limited-edition NFTs will be sold on Immutable X (Layer-2) and have the benefit of zero gas fees.
Other NFTs will seemingly come from Bella Poarch, Grimes, Lil Nas X, XOR, JessTheMess, Brittany Broski & more and these will be available on Ethereum through a strategic collaboration with the Immutable X platform, that uses an environmentally friendly, carbon neutral, layer-two scaling solution.
Immutable X is the first Layer-2 scaling solution for NFTs built on Ethereum, seeking to enable mainstream businesses to create and trade NFTs without costly gas fees and retaining the security of the Etherium protocol. The Immutable X platform was built in partnership with StarkWare and offers NFT creators and collectors instant trade confirmation, custom royalties, wrapped with an easy-to-use platform.
The environmental impact of Etherium and Crypto-current has been a major talking point for regulators and cblockchain skeptics, however many are seeking to create sustainable soloutions and thankfully all NFTs traded on Immutable X are completely carbon neutral.