Alexis Ohanian, the co-founder of Reddit and a venture capitalist, has officially joined the TikTok purchase race. He is looking to bring the app on-chain.
Background
- The Reddit co-founder believes TikTok has been a game-changer for creators, and they should be the ones building its future
- Alongside, he envisions empowering users by helping them own their data
Why should you pay attention?
- Ohanian intends to make TikTok a platform “for the people, by the people” by setting a “new standard”
- Stalwarts from the community like Raoul Pal are on the same page as Ohanian snd his “amazing” initiative
Who said what?
- Specifically, Ohanian emphasized,
“Exciting news for the digital world… I'm officially now one of the people trying to buy TikTok US — and bring it on-chain”
- Matthew Sigel, the Head of Digital Assets at VanEck, said,
“On-chain TikTok Enters the Chat Right on Schedule. Welcome to 2025”
- Even though the wider community seems excited about the possibility ofTik-Tok stepping into the on-chain world, there are skeptics too
- While some remain unclear about the working dynamics, others don’t seem to be comfortable with the idea of their personal TikTok data being stored on-chain
Zooming out
- If the purchase-deal turns out to be in Ohanian’s favor, it will mark the dawn of a new era for consumers on-boarding the blockchain rails
- This, in turn, could help refuel the DeSoc (decentralized social networks) hype
