Reddit Co-Founder Joins Bid to Blockchain-ize TikTok US

Reddit co-founder Alexis Ohanian has joined Project Liberty's bid to acquire TikTok's US operations, aiming to move the popular social media platform onto the blockchain. The tech entrepreneur announced his involvement on March 3, stating that he is now part of the effort to purchase TikTok US and bring it "onchain" using blockchain technology.

Project Liberty, founded by American businessman Frank McCourt, aims to "rearchitect the platform to put people in control of their digital identities and data." The bid has been dubbed "The People’s Bid" by McCourt, reflecting the group's mission to transform TikTok's underlying structure to prioritize user data ownership and creator control.

Ohanian expressed strong views about the future of social media platforms, stating, "Users should own their data. Creators should own their audience. Period." If successful, the acquisition would implement a blockchain-based system called "Frequency," a decentralized social network operating on Polkadot's infrastructure that focuses on giving users ownership of their personal data.

The timing of the bid follows political developments regarding TikTok's future in the United States. The app briefly shut down before President Donald Trump took office, who then revived it in one of his first official acts and granted a 75-day delay in enforcing a ban.

Ohanian is not the only high-profile figure involved in the acquisition attempt. "Shark Tank" investor and cryptocurrency advocate Kevin O’Leary has also joined Project Liberty’s effort to purchase TikTok’s US operations.

This is not Ohanian’s first venture into blockchain technology. During his time at reddit, the platform invested some of its cash reserves into Bitcoin, Ethereum, and Polygon, though it reportedly sold most of these holdings during the third quarter of 2024. Reddit also launched blockchain initiatives under Ohanian’s influence, including "Reddit Collectible Avatars" and a blockchain-based rewards system called "Community Points."

The Frequency blockchain that would power the new version of TikTok is designed with specific features for social media. It uses a unique pricing model to handle high-volume social interactions and make different applications built on the platform work together. Ohanian expressed excitement about the potential acquisition, stating, "We’re setting a new standard for what’s possible in digital communities. A TikTok for the people, by the people. Let