Zoop and Hbar Foundation, Led by OnlyFans Founder Tim Stokely, Aiming to Take on Tiktok
Rewritten Article:
A team-up between the Hbar Foundation and Zoop, helmed by OnlyFans co-founder Tim Stokely, has tossed their hat in the ring for acquiring TikTok's U.S. operations. This move comes under the heat as ByteDance faces the April 5 deadline, threatening a ban if they fail to divest the viral app due to national security concerns.
The Hbar Foundation oversees the Hedera cryptocurrency network's treasury. By partnering with Zoop, they aim to unveil a new monetization model where creators reap rewards in cryptocurrency tied to the worth they generate. In the event of a successful acquisition, TikTok's payments could transition into blockchain-based transactions using Hedera's native token, HBAR.
Zoop aims to carve out a niche as a family-friendly content hub, distinct from OnlyFans' adult content focus. By partnering with the Hbar Foundation, they share a vision of giving creators more control over their finances and reward systems facilitated by digital asset technologies.
Multiple big names are eyeing TikTok's U.S. business amid the bidding frenzy. According to The New York Times, Amazon, spearheaded by Jeff Bezos, has also submitted a competing offer. On the other hand, Reuters reports other interested parties such as Project Liberty, backed by businessman Frank McCourt, and Shark Tank's Kevin O'Leary. Oracle, Blackstone, and venture capital firm Andreessen Horowitz are also in talks, while discussions with other parties are rumored.
The potential deal could see ByteDance's largest non-Chinese investors stepping up, securing control over TikTok's U.S. operations. The White House reportedly orchestrates the process, with U.S. Vice President JD Vance expected to oversee the bidding process.
If Zoop and the Hbar Foundation secure their bid, the shift could revolutionize creator compensation on TikTok. Payments powered by HBAR tokens may facilitate speedier, borderless transactions and reward systems that directly benefit both creators and their followers.
The future of TikTok in the U.S. hangs in the balance, depending on how the bids unfold and whether any offer satisfies both national security demands and commercial expectations.
Prospective Bids and Strategies:
- Project Liberty’s “People’s Bid”: Led by Frank McCourt, this group centers their focus on privacy-centric governance through an open-source model[1]. Their approach emphasizes decentralizing the data control system, potentially moving monetization towards user-centric data ownership and ethical advertising practices.
- AppLovin: Submitted a last-minute bid for TikTok's non-China operations [3]. Details about the monetization model remains hazy, but their expertise in mobile ad-tech could pave the way for enhanced ad-targeting tools and partnerships with app developers.
- Microsoft: Returned to the bidding with no declared monetization plans [2], but their cloud infrastructure and enterprise partnerships could pave the way for shopping features or subscription services for creators.
- Oracle: Eyeing a role as TikTok's cloud technology partner, leveraging its data infrastructure to ease U.S. security concerns [2]. This collaboration could streamline ad analytics and compliance-focused monetization.
- Amazon: Recently entered the race, seeking to potentially integrate TikTok’s social commerce with its ecosystem (like shoppable videos linked to Amazon’s marketplace) [2].
- Steven Mnuchin's bid largely focuses on regulatory compliance and strike a balance between commercial success and national security.
- Bobby Kotick's potential interest hints at a gaming and social media hybrid model, combining in-app purchases or gaming-related ads.
- Walmart looks to amplify social commerce, building on its 2020 interest in TikTok’s shoppable video features to drive retail sales.
- Perplexity AI's plan remains under wraps, but it may revolve around AI-backed content recommendations to optimize ad placements.
- Rumble aims to expand its creator ecosystem by decentralizing content hosting or reducing platform fees.
Common Themes:
- Data Privacy and Control: Multiple bidders are stressing the importance of U.S.-controlled data storage* to alleviate security concerns [1][4].
- Social Commerce: Major players like Amazon and Walmart are eager to incorporate shoppable content integrations [2].
- Monetization Innovation: Anticipated enhancements involve creator subscriptions, in-app tipping, and ad-revenue-sharing models [2][4]. While ByteDance’s non-Chinese investors are also in the running to increase their stakes [4], the immediate transformation of TikTok’s business model hinges on the buyer's strategic vision.
- The Hbar Foundation, in partnership with Zoop, aspires to introduce a new monetization model on TikTok, where creators are remunerated in cryptocurrency tied to the value they generate.
- If successful in their acquisition bid, TikTok's payments could transition into blockchain-based transactions using Hedera's native token, HBAR.
- Other potential bidders, such as Amazon and Walmart, are also interested in incorporating shoppable content integrations as part of their monetization strategies.
- Project Liberty, one of the bidders, focuses on privacy-centric governance through an open-source model, aiming to decentralize the data control system and potentially move monetization towards user-centric data ownership.
