- Zoop + HBAR Basis are attempting to purchase TikTok’s U.S. biz, competing with tech giants like Amazon and Microsoft.
- The transfer responds to a 2024 legislation forcing ByteDance to divest its U.S. TikTok property as a consequence of nationwide safety points.
- If permitted, it might fuse social media with decentralized tech, giving creators extra energy and presumably altering the best way platforms deal with content material, information, and monetization.
In a twist straight outta crypto Twitter fever desires, Zoop — a rising social app launched by OnlyFans founder Tim Stokely — has formally teamed up with the HBAR Basis to make a transfer on TikTok’s U.S. operations.
Yup. They’re throwing their hat within the ring alongside heavyweights like Amazon, Microsoft, Oracle, and even Rumble.
So… Why’s TikTok Up for Sale Anyway?
All of it goes again to that legislation handed in 2024 — the one which mainly stated ByteDance, TikTok’s China-based dad or mum firm, needed to dump its U.S. property or danger being banned. Nationwide safety and information privateness issues, the same old drill.
The unique deadline to conform was January 19, however as soon as President Trump returned to workplace, he gave everybody a bit extra respiration room — 75 further days, pushing the cutoff to April 5. That’s… like proper now.
Whether or not there’ll be one other extension? Nonetheless completely up within the air. If Congress doesn’t step in, the legislation stands.
Zoop’s Pitch: Creators Ought to Personal the Worth They Create
Zoop co-founder RJ Phillips made it clear: this isn’t nearly buying TikTok — it’s about flipping the mannequin. His imaginative and prescient? A platform the place creators and communities really profit from the content material they generate, not simply the firms behind the scenes.
Assume income sharing. Assume information possession. Assume… Web3, clearly.
And guess who’s serving to drive that imaginative and prescient? The HBAR Basis, tied to the Hedera community, which has a market cap north of $7.3 billion. They’re not being delicate both — they posted TikTok’s brand on X (previously Twitter) on April 2. Loud and proud.
Might This Be TikTok Meets DeFi?
If this deal really goes via (and that’s nonetheless an enormous if), it might set off an entire new period in social media — one the place platforms are powered by decentralized tech, and customers possibly (lastly?) get a lower of the worth they assist create.
Higher creator instruments. Clear algorithms. Knowledge possession. Perhaps even token rewards? It’s formidable, yeah, however that’s kinda the purpose.