Reddit co-founder trying to buy TikTok and bring it ‘on chain’

Reddit co-founder Alexis Ohanian has confirmed helium has joined Project Liberty’s bid to get TikTok’s US operations with the purpose of bringing the level onto a blockchain. 

Ohanian’s engagement was archetypal reported by Reuters connected March 3, with Project Liberty laminitis Frank McCourt announcing Ohanian would beryllium joining arsenic a strategical advisor specializing successful societal media.

“I’m officially present 1 of the radical trying to bargain TikTok US — and bring it onchain,” Ohanian confirmed successful a March 3 X post.

Source: Alexis Ohanian

“Users should ain their data. Creators should ain their audience. Period,” helium added. 

McCourt founded Project Liberty and has been gathering a consortium to acquisition TikTok’s US operations and “rearchitect the level to enactment radical successful power of their integer identities and data.”

The connection is centered connected utilizing “Frequency,” a decentralized societal web protocol that gives users ownership of their idiosyncratic information and uses Polkadot’s infrastructure. 

“TikTok has been a game-changer for creators, and its aboriginal should beryllium built by them,” Ohanian said connected X.

“Frequency volition empower these principles to go reality. And with transparency and accountability astatine the core, this caller TikTok won’t conscionable beryllium fairer — it’ll beryllium GREATER.”

Ohanian is nary alien to blockchain tech. Beginning successful 2022, his platform, Reddit, invested excess currency reserves into Bitcoin (BTC), Ether (ETH) and Polygon (POL), though it sold astir of it during the 3rd 4th of 2024.

Source: Tomicah Tillemann

In 2022, Reddit besides announced a blockchain-backed avatar system called Reddit Collectible Avatars — a postulation of Polygon-based non-fungible tokens (NFTs) that users could bargain and adhd to their profiles, which besides came with perks. 

Related: China whitethorn merchantability TikTok to Musk if US prohibition goes through

However, NFT income fell on with those of the crypto markets. The caput of Reddit RCA, Bianca Wyler, stepped down from her relation successful January. 

The level besides erstwhile had a blockchain-based rewards service called “Community Points,” which was unopen down successful precocious 2023. 

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