🌈 A quick taster for you:
- TikTok is selling 6 videos as NFTs.
- Other social media platforms are also creating their own NFTs.
- Keep valuable art on your mobile phone.
🧐 Why do I care?
Disclaimer: If you're wondering WTF is an NFTs, then head over here and we’ll get you up to speed.
Okay, let's get started. During the month of October you’ll have the opportunity to buy various iconic TikToks from your favorite artists. Nice! But how will that work?
🔍 What exactly is happening here?
- 6 TikTok videos for eternity
On the 6th of October, TikTok will release six videos as NFTs — which will be available to be purchased as one-of-one and as limited editions. Each of the NFTs is dedicated to the creators who helped make TikTok great, including Bella Poarch, Lil Nas X, Gary Vaynerchuk and Grimes.
- TikTok x NFTs
TikTok is using the hype around their NFT launch to help promote themselves to users and creators. Nick Tran, TikTok's head of marketing, says that TikTok videos have a significant impact on culture and drive trends. Fans now have the opportunity to own a moment on TikTok and build a closer connection with their artists. The profits from the sales will go directly to the creators responsible.
- Social Media x NFTs
TikTok is not alone in entering the NFT space. Instagram is already in talks with several artists who are creating NFTs to sell in conjunction with Instagram. And Twitter wants to serve as a gallery where artists and collectors can showcase their NFTs.
🤓 What does this mean for me?
NFTs are becoming increasingly popular and widespread, as they allow us to reconnect with our idols and our favorite art. Whenever our parents rave about having a signed CD or vinyl from their favorite band, we can pull out our phone and show them a verified, limited edition NFT of our idol. Even if you’re not interested in owning an NFT for sentimental reasons, the supply and demand game applies here — if someone is willing to pay more money for your NFT than you bought it for, then you’ll make a profit.