TikTok NFTs are getting popular as famous stars are being pulled into the game. This is why the company is partnering with creators like Grimes, Bella Poarch and others to release their own collection of NFTs. These NFTs will be popular moments of these personalities or just some well-loved videos that fans will appreciate. TikTok is going to auction these NFTs alongside their other limited collection in October.
More about the TikTok NFTs
This is really going to be big as more and more artists are adding up to the list of NFT creators. The first NFT that will be up for sale is Musician Lil Nas X collaborating with Rudy Willingham on 6th October. At the same time, we are going to see another NFT from Brittany Broski collaborating with Bella Porch. There has still been no information on how the payments will be made to these creators. But I think an appropriate payment model will be to give them a cut of what the NFTs sell for. This is what is expected of them but let’s see.
The company has declined to give any comment on the specific payment that artists will get. But TikTok did say that part from the majority amount that creators will receive the rest will go to the museum that will showcase the NFTs and also the company that handles the trading. TikTok is not going to keep any profits from these sales and will make sure that the price points of the NFTs are not far off-limits of most people.
Should you invest in these NFTs?
If you are a big fan of these creators and have a lot of surplus money then well and good. But in general, I don’t think it is a good idea to purchase these NFTs. Why? As I highly doubt that they will be able to preserve their value with time. NFTs have a lot of pros and cons and should you invest or not depends totally on the risk you are willing to take.
What are your thoughts on the TikTok NFTs and the auction that will be conducted in October? Will you be interested in getting one of these tokens? Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.