Reddit’s co-founder Alexis Ohanian shocked the crypto sphere, in addition to the broader IT part with a bid on TikTok US, pledging to carry the large social media platform on-chain. In a sequence of tweets on X, the entrepreneur defined that “customers ought to personal their information”, whereas “creators ought to personal their viewers”.
As this completely aligns with the ideas of blockchain tech, Reddit’s co-founder Mr. Ohanian is teaming up with Frank McCourt, a enterprise govt, main a Polkadot (DOT) chain-powered non-profit group Undertaking Liberty and the proprietor of legendary French soccer membership Olympique de Marseille.
TikTok: Freedom Version In The Making
Initially, TikTok’s mother or father firm ByteDance was meant to be banned on January 19, 2025, per earlier President Joe Biden’s orders. Nevertheless, President Donald Trump prolonged the time period to April, 2025 in certainly one of govt orders signed on his first evening within the Oval Workplace.
Celebrating the bid on the US model of TikTok, Reddit’s co-founder named a lesser identified Frequency parachain on the Polkadot (DOT) chain that can energy the Web3 version of TikTok. The social media-specialized parachain lets Web3 customers take possession of their information, which additionally solves the difficulty of Chinese language authorities information assortment worries within the U.S.
Customers ought to personal their information.
Creators ought to personal their viewers.
Interval.
Frequency will empower these ideas to turn out to be actuality. And with transparency and accountability on the core, this new TikTok received’t simply be fairer—it’ll be GREATER.
— Alexis Ohanian
(@alexisohanian) March 4, 2025
Collectively, McCourt’s consortium has put up a $20 billion supply for TikTok US, whereas one of many buyers is the Canadian TV star Kevin O’Leary a.ok.a “Mr. Fantastic” on ABC’s Shark Tank. Then again, conglomerate IT giants like Microsoft are additionally going after TikTok, in addition to the bogus intelligence (AI) startup Perplexity and the founding father of Roblox online game.
On The Flipside
- Except for the $20 billion “The Folks’s Bid for TikTok” by Reddit, different bids on TikTok US may overreach this, as analysts consider TikTok is value extra as a result of coveted algorithm.
- On social media, tongues have been despatched wagging that YouTube star Mr. Beast and Jesse Tinsley, the founding father of Employer.Com, have joined forces with Roblox to supply over $55 billion.
Why This Issues
If the deal succeeds, TikTok US would evolve as the primary main social platform fully dwelling on the blockchain. Reddit’s acquisition of TikTok is about to onboard 170 million customers onto Web3, enabling them to personal their personal information with out issues of information assortment or breach.
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