Under the plan, a selection of TikTok’s most popular viral videos will be auctioned to users in the form of NFTs. Fans will then be able to trade these videos, and the transactions will be facilitated by Immutable, a Sydney-based fintech that is attempting to take NFTs mainstream by slashing the cost of trading these digital assets.
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Aussie fintech teams with TikTok to allow trading of viral videos as NFTs
Immutable co-founder Robbie Ferguson said the move would give creators of content permanent royalties, and the NFTs were likely to be valuable for fans. “The goal is for fans to be able to own these culturally significant moments,” Mr Ferguson said.
