This massive NFT wave even lifted less-known blockchains such as Solana, resulting in it outperforming Ethereum by 500%. However, TikTok will use neither Ethereum nor Solana, but Immutable X. This is another Layer 2 scalability solution on top of Ethereum. Immutable X was specifically designed to have zero gas fees so it can onboard blockchain games, marketplaces, and applications. Because of this emphasis on advanced machine learning to generate constant video feedback, TikTok’s success has been remarkable. Since its launch in 2016, TikTok hit one billion global monthly users this summer. With these new updates, Instagram is trying to shore up its platform against the threat of competition, namely from TikTok, which has attracted a growing number of creators.

  • Meta also announced that it’s introducing gifts on Instagram, starting with reels, to give creators a new way to earn money from their fans.
  • On October 26, Max Martin, Savan Kotecha and Ali Payami will release 60-seconds of the new single ‘Red Lights’ exclusively on TikTok.
  • When the Inflation Reduction Act passed last fall, much was made about the revamped electric vehicle tax incentive structure for new car purchases.

It is reported that the company will release “Mask Packs” throughout the season, each priced at $20, which contains 3 NFTs. Users who successfully collect the entire set of NFTs will receive digital prizes and, in some cases, real-world rewards or experiences. At the same time, the community will be able to vote on the characters they think will be eliminated, and those who guess the right one will be eligible to buy a special “golden” mask pack. In addition, users can also get the NFT of the show’s mascot “Miss Masky” for free. The company announced plans this fall to memorialize popular moments on the app through a series of one-off NFTs with musicians like Lil Nas X and creators like Curtis Roach (2.1 million followers).

TikTok Dances Into NFTs

Trader Joe launched Liquidity Book, a new AMM model to improve Uniswap V3’s concentrated liquidity model. The model introduces a variable fee that compensates for periods of high volatility and mimics the spread of a CLOB. More than a week later and after a missed deadline, TikTok finally released its first NFT; the price skyrocketed almost 4X in one hour.

TikTok Launches First Creator-Led NFT

Immutable X, a layer-2 scaling solution built on top of Ethereum, the dominant platform for NFTs, will be used to create TikTok’s NFTs. Immutable X has cheaper transaction fees and faster transaction completion times than Ethereum’s mainnet, and it consumes far less energy than Ethereum’s existing proof-of-work consensus model. TikTok announces that they are launching their first ‘creator-led’ NFT collection featuring Lil Nas X, Bella Poarch and Brittany Broski.

On October 11, the well-known game guild Yield Guild Games announced that it has reached a strategic cooperation with the NFT game CyBall to help more players get in touch with the CyBall meta-universe game. YGG co-founder Gabby Dizon will join the CyBall advisory board to directly provide guidance to the CyBall core team and expand its P2E model. In addition, YGG will provide Genesis CyBloc NFT rewards to at least 1,000 CyBall players during the testing phase. Earlier news, Yield Guild Games has reached cooperation with Gaming Guild, Merit Circle and the space strategy multiplayer game Influence. Discord has dramatically evolved in the past years from a gaming-oriented platform to a more encompassing place, including the NFT crypto community.

With Joystick, Le said he wants to educate people about how to navigate Web3 and NFTs. It’s important that his audience understands the space even as it continues to evolve, he said. In 2015, he began posting videos on before it was bought by TikTok. When he accepted his first brand deal in 2016, he said there was no standard for those kinds of relationships. He said he had to figure out how to navigate brand deals and sponsorships, relying on his own entrepreneurial mindset to negotiate deals.

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The metaverse craze seems to have lit a bulb of curiosity in the renowned crypto critic, President Erdoğan, who asked his party to study the ‘mysteries’ of the virtual world. The 16-piece collection is available within the wallets of holders of its capsule collection which was launched in May and airdropped to Into The Metaverse NFT holders who have claimed Phase 2. We won’t be able to retrieve any other tokens or NFTs sent to your Roll wallet. If you’ve never deposited social tokens to Roll before, you’ll be asked to generate a new wallet.

The best way to discover NFT crypto communities is to follow hashtags like #NFTCommunity, #NFT, #NFTart, and #NFTcollector. Closely monitor and participate in social media conversations about NFTs and digital goods. For instance, Bitcointalk is the perfect platform to release news via ANN posts to build the buzz around your NFTs. Reddit provides a platform to interact with fans by asking questions and responding to community feedback.

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