TikTok Launches NFT Series “Tiktok Top Moments” on a Site Powered by ​​Layer 2 Ethereum Solution

TikTok Launches NFT Series “Tiktok Top Moments” on a Site Powered by ​​Layer 2 Ethereum Solution

The fast-growing social media platform TikTok, which has surpassed 1 billion monthly users worldwide, has jumped into the non-fungible tokens (NFT) scene by announcing TikTok Moments.

“TikTok is exploring the world of NFTs as a new creator empowerment tool,” says the company on its TikTok Top Moments.

“NFTs are a new way for creators to be recognized and rewarded for their content and for fans to own culturally-significant moments on TikTok.”

To begin with, TikTok is leveraging content from a select few of its top creators including Lil Nas X, Bella Poarch, Grimes, and Rudy Willingham. It will be one-of-one limited edition NFTs that will generate the buzz essentially among the existing NFT community.

“Now, you can own a moment on TikTok that broke the internet.”

The proceeds will “largely” go directly to the creators and artists of the NFTs, it further added.

These NFTs will be available on a dedicated site powered by Immutable X, a layer 2 solution for Ethereum that claims to be “100% carbon neutral.” These moments can be traded on secondary NFT marketplaces such as OpenSea.

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Author: AnTy

Blockchain Music Platform Audius Becomes TikTok’s First Streaming Partner

Audius has partnered with TikTok on the app’s new “TikTok Sounds” library feature. According to an announcement released today, Audius users would now be able to share tracks to the popular app directly.

Users Could Win AUDIO Tokens

The partnership between Audius and Tiktok would help artists reach a larger audience. With Audius being a TikTok partner for the Sound Kit functionality, songs on the Audius platform can now be transferred seamlessly into the video-sharing app. With the feature, artists who have songs on Audius can also make them available for TikTok users.

To promote this feature, Audius allows users to win 50 AUDIO tokens, the native utility assets of the Audius platform. TikTok users stand the chance of winning this prize when they use an Audius track in their videos.

Audius’s partnership with TikTok is important because of the massive audience the social media app has. TikTok reportedly has a billion active users. It had 732 million global monthly active users as of October 2020, and that figure has likely climbed up since then.

The TikTok and Audius partnership comes after the social media app banned cryptocurrency-based promotional content on its platform. Tiktok updated its branded content policy last month, prohibiting users from posting any promotional content on cryptocurrency and forex.

The AUDIO token is currently trading at $3.26, up 93.96% in the last 24 hours.

Audius Pushing Initiatives For Artists

Audius is a decentralized music-sharing and streaming protocol that facilitates direct transactions between listeners and creators. The platform gives everyone the freedom to distribute, monetize, and stream any audio content.

Although the network is a streaming platform based on the Ethereum and Solana blockchains, it focuses more on pushing music than crypto, as seen in its recent partnerships. The new initiative with TikTok appears to be more about music rather than pushing cryptocurrency or decentralized finance (DeFi).

According to co-founder and chief product officer Forrest Browning in a Rolling Stone interview, roughly 95% of Audius users have no idea that blockchain is even involved.

Last month, Audius announced a partnership with Metaplex and Solana foundation to use the Solana Creator Fund to attract new artists to its platform. The $5 million fund is focused on helping creators launch new works in frontier categories like music streaming, NFTs, and The Metaverse.

Founded in 2008, Audius currently has about 5 million monthly active users, according to an announcement released earlier this month. The platform boasts of over 100,000 musicians, including Skrillex and deadmau5.

Audius allocates AUDIO tokens to musicians based on the number of streams they generate. The platform also makes it possible for creators to set their rules regarding monetization instead of paying them directly. Creators use the AUDIO tokens for yield earning through staking.

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Author: Jimmy Aki

TikTok Bans Investment Promotions Including Cryptocurrency Ads

Popular China-based social media app TikTok, with an estimated 1 billion monthly active users, has updated its branded content policy to put a global ban on touting financial services, including cryptocurrencies.

Besides cryptos, this ban also covers but is not limited to Forex companies loans, credit cards, pyramid schemes, investment services, get rich quick schemes, management of money assets, and buy now pay later companies.

The social media giant’s ad policy stated that financial services are allowed to advertise to users over the age of 18. However, ads for cryptocurrencies are prohibited from the platform.

This move is aimed at putting a stop to the promotion of high-risk investments on social media.

In February, UK’s Financial Conduct Authority (FCA) released a report that said that TikTok had been used to target young investors looking to make a quick buck.

“The findings reveal there is a new, younger, more diverse group of consumers getting involved in higher-risk investments, potentially prompted in part by the accessibility offered by new investment apps,” reads the report.

Last month, TikTok also teamed up with Citizens Advice to roll out videos talking about making informed financial decisions. At the time, the company said, it wanted to help users become confident and alert to financial misinformation.

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Author: AnTy

BTC Bull ‘Pomp’ Teams Up With TikTok Influencer Bryce Hall to Launch Capital University Podcast

Bryce Hall, a popular TikTok star, is all set to enter the financial realm with popular bitcoin proponent Anthony ‘Pomp’ Pompliano. Teaming up to launch a podcast called “Capital University,” unlike Pomp’s main podcast, which solely focuses on business and promoting bitcoin, this joint venture is focused on reducing the generational divide.

The podcast would be a different exchange of ideas for both the individuals, where Pomp would try to understand how social media influencers earn money. In contrast, Hall will try to learn tips on investments and building generational wealth through smart investment strategies. Hall said,

“I just want to highlight the power and importance of diversification. I do believe crypto is its own asset class and one worth exploring.

It is definitely the Internet’s version of gold with the caveat of having a known finite amount of units.”

Hall raises to fame through the popular short video sharing social media platform TikTok and boasts of around 25 million subscribers across various social media platforms and currently boasts of $2 million in net worth.

Hall also mentioned on Twitter that the new podcast would be a new learning curve in life, especially in terms of finances. He also opened up that currently, he does not hold any cryptocurrency, nor does he have any prior association within the crypto space.

The TikTok star might not have any crypto holdings at present, but given his association with Pomp, it would not be a big surprise if the young social media influencer does eventually invest in digital assets.

Several big shots have already agreed to come on the podcast, including Mark Cuban and Gemini exchange founders, Tyler and Cameron Winklevoss. Given Cuban as well as both of the brothers have made a name for themselves. They could also play a key role in helping the young influencer understand how digital assets work.

Hall also commented on his first guests for the podcast and said,

“When Tyler and Cameron Winklevoss are engaging with your tweets and direct messaging you, you better take what they say seriously and reevaluate your investment positions.” He continued,

“Right now, when you’re at the top, this is when you’re going to be making the most money. You just have to find a way to sustain it.”

Even though the Podcast officially launched yesterday, it has already soared to the number one business podcast in the world. This sudden rise was probably due to Bryce’s 25 million combined social media followers.

You can catch the first cut episode on YouTube here:

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Author: Rebecca Asseh

TikTok Owner ByteDance and a Chinese State Owned Media Partners on Blockchain and AI

The proprietor of renowned video sharing social media platform TikTok has inked a deal for a joint venture with a Chinese state owned media company to develop artificial intelligence as well as blockchain-based business models, Bloomberg reports. The deal will be led by TikTok’s parent company ByteDance.

ByteDance is establishing a joint venture with Dongfang Newspaper. The new joint venture will be based in the capital of Shandong province in China known as Jinan and was launched on Dec. 10. The venture was started with an initial capital of $1.43 million or 10 m Yuan. as per the agreement, ByteDance will be the minority shareholder owning 49% of the new venture while Dongfang will have a 51% stake.

Currently, TikTok has about 500 million users who are active and is ranked second among the most downloaded apps within the Apple Store but only in the US. Cointelegraph alleges that the app is likely to be funneled to the fresh joint venture as its video feed is entirely managed using an AI algorithm that predicts the user preferences and offer content that will fit the user.

Although it is not yet known how TikTok and ByteDance will initially benefit from this agreement, one probable way can be verification of digital media data. It is expected that a currency model could be introduced for the users. There are suggestions that verification of digital media data could be introduced due to the emergence of deepfakes AI-produced videos.

ByteDance has entrenched itself as one of the rapidly growing startups in China and has been in the forefront in the creation of a number of partnerships mostly with state owned media groups in efforts to get content for its recently launched news aggregator platform known as Jinri Toutiao.

ByteDance’s TikTok app has become one of the most sought after apps in the US, especially with the youths and has received endorsements from celebs like Katy Perry as well as Ariana Grande. However, the recent relations with Chinese state owned firms has raised eyebrows in the recent past with the US security agencies cautioning its users to be extra vigilant with the personal data they share within the app.

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Author: Joseph Kibe