The HBAR Basis has teamed up with the founding father of web subscription web site OnlyFans, Tim Stokely, in a bid to amass Chinese language social media app TikTok, in keeping with a brand new Reuters report.
Stokely and the HBAR Basis submitted a bid final week to the White Home by the previous’s new family-friendly crowdfunding firm, Zoop, Reuters stated.
“Our bid for TikTok is not nearly altering possession, it is about creating a brand new paradigm the place each creators and their communities profit instantly from the worth they generate,” Zoop co-founder RJ Phillips instructed Reuters.
The HBAR Basis is the entity behind Hedera (HBAR), a proof-of-stake sensible contract platform that launched in 2018. With a market capitalization of $7.2 billion, HBAR is the Twenty second-largest cryptocurrency in existence as of press time. The coin solely reacted mildly to the information and is up 1.5% within the final 24 hours.
The duo’s bid for TikTok isn’t the one one available on the market. On-line retailing big Amazon (AMZN) can also be trying to amass the platform, in keeping with The New York Occasions.
The HBAR Basis confirmed to CoinDesk that it had certainly submitted a bid to amass TikTok US with Zoop.
“This strategic initiative goals to disrupt the normal massive tech mannequin the place platforms can seize as much as 90% of income whereas creators – who generate the content material – obtain a disproportionately small share,” the businesses stated in a press launch.
UPDATE (April 2, 2025, 20:10 UTC): Up to date with affirmation from HBAR Basis.
