- Popular video platform TikTok launched its first NFT for auction
- Curtis Roach's Bored in the House NFT price surpassed 6.4 Ethereum or $21,000 overnight
- With the help of NFTs, TikTok plans to reward popular creators and give the fans a chance to join the NFT hype
The highly popular platform featuring millions of videos from content creators around the world, TikTok, joined the NFT hype by launching the TikTok Top Moments collection. The first NFT that is up for auction is Curtis Roach's Bored in the House. The interest toward the NFT is quite high and the price for the token surpassed $21,800 overnight.
TikTok Launches First NFT with Curtis Roach's “Bored in the House”
In the last few years, the hype over NFTs (Non-Fungible Tokens) has been continuously growing. The one-of-a-kind items can be videos, in-game items, memes or other digital goods. Storing NFT data on a blockchain allows the originality of the item to be verified and it cannot be forged in any way. Furthermore, the holder of the NFT has bragging rights, which is something that everyone wants.
Now, TikTok, the platform that features millions of short videos is joining the NFT hype by announcing the first auction. Launching its TikTok Top Moments collection, the first NFT features a clip with Curtis Roach. The highly popular “Bored in the House” video by the rapper has nearly 50 million views on TikTok and it is now available for purchase as an NFT.
“Now, you can own a moment on TikTok that broke the internet.” TikTok
The 15-second video went viral last year. The catchy tune quickly gained popularity and became an anthem for dealing with isolation. The “Bored in the House” NFT features a minute-long video that takes the viewer to an animated urban environment. Roach is placed in the center while the tune itself is being played back and forth.
The Auction Surpasses Five Digits Overnight
TikTok revealed that it launched NFTs as a new way to empower and reward iconic content creators for their work. This also gives TikTok fans a chance to own culturally significant moments on the platform. TikTok Top Moments will feature six culturally significant TikTok videos from some of the most popular creators on the platform.
“The creation that happens on TikTok helps drive culture and start trends that impact society,” reads a statement released by TikTok
The auction for TikTok's first NFT will last for 7 days. While not even a day has passed since the launch, the interest toward “Bored in the House” NFT is significant and the price has already surpassed $21.800 or 6.4 Ethereum. Considering the high interest, it would be difficult to predict what the final price of TikTok's first NFT is going to be. However, after the price has reached 5 digits not even a day after the launch, it is quite likely that Bored in the House NFT will surpass the 6 digit mark at the end of the auction.