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Because no peace can be found in the Age of Man, TikTok decided to partner with creators, celebrities and online entities like Lil Nas X, Bella Poarch and Grimes to release a collection of non-fungible tokens. These TikTok Top Moments, as the company calls them, are inspired by six “culturally significant” TikTok videos in the form of unique NFTs. TikTok plans to auction them off along with a selection of limited edition NFTs that it will be selling weekly throughout October.
Partnerships, creators, and new material symbolized and auctioned vary. Musician Lil Nas X will premiere on October 6 with a collaboration with artist Rudy Willingham, while Grimes collaborate with Brittany Broski (“Kombucha Girl”), and separately with Bella Poarch. TikTok’s full list of collaborations gives more details on these selections and more, but oddly missing details on how creators will actually be paid.
“Profits will largely go directly to the creators and NFT artists involved,” writes TikTok, but the company declined to break down specific percentages at the request of The edge. TikTok says the majority of the revenue will go to the creators of NFTs. The rest will go to Immutable X, which manages the NFT exchanges for the ensemble, and the Museum of the Moving Image, which will host a TikTok exhibit featuring the six main pieces of the TikTok collection. TikTok will not take any proceeds off sale and says that NFT’s limited edition weekly drops will be “sold at affordable prices to ensure that every creator’s audience can own a piece of their story.”
While “owning” a viral TikTok can be an exciting idea, it’s worth acknowledging the environmental impact it could have. NFTs and other blockchain-based projects have the potential to use massive amounts of energy, by design. Immutable X says that the NFTs it helps TikTok Mint will be carbon neutral, but not all NFTs or NFT markets are created equal. Likewise, whether you actually “own” the NFT video you purchase depends, aside from philosophical implications, on the security of where it is stored.
For more information on TikTok’s best moments, visit Immutable X and the TikTok site.
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