Reddit Co-Founder Eyes TikTok Acquisition, Blockchain Integration

Reddit's cofounder Alexis Ohanian has expressed his interest in acquiring the popular social media platform TikTok, with plans to integrate it with blockchain technology. While specifics of his proposal are limited, Ohanian aims to leverage Web 3 to redefine social media ownership.

Ohanian has officially joined the list of bidders for TikTok, serving as a strategic advisor for Project Liberty, led by Frank McCourt. In a public announcement, Ohanian confirmed his intention to purchase TikTok and bring it on-chain. He envisions a future where users own their data and creators own their audience, setting a new standard for digital communities.

While Ohanian's post did not provide detailed insights into the future of TikTok, industry experts suggest that the platform could feature on-chain monetization through cryptocurrency micropayments. Additionally, the integration of non-fungible tokens (NFTs) could be a possibility, similar to Reddit's experiments with digital collectibles.

It remains unclear which blockchain Ohanian will utilize in his efforts to bring TikTok on-chain. Centralized Layer 2 blockchains have been mentioned, but Reddit's past experiences may influence a preference for Layer 1 chains. Regardless of the chosen blockchain, Ohanian and Project Liberty members must ensure regulatory compliance, particularly in light of ongoing crypto-related lawsuits and the SEC's dismissals of some cases.