Yesterday Amazon joined the bidding process for the Chinese social video platform TikTok. So far various organizations have placed bids to buy TikTok. The first bids for the company recently valued at $400 billion came in on March 10th. The deadline to submit bids to the White House is this coming Saturday April 5th.
In an interesting scoop, Reuters reported yesterday how startup Zoop, which is run by Tim Stokely, founder of adult content social media site OnlyFans, has partnered with a cryptocurrency foundation to submit a bid for TikTok.
The story immediately gained huge attention on the X platform, especially as the HBAR Foundation posted the TikTok logo on X:
TikTok’s owner, ByteDance is under pressure to sell its U.S. operations, leading to multiple bidders submitting interest to the White House. These include Microsoft, Oracle, as well as Amazon.
If the bid by HBAR Foundation and Zoop is successful, then the new owners could create a creator-focused model where communities are more engaged and gain rewards. It could also be integrated with blockchain technology like Hedera.
What is the Response to the Bid by HBAR Foundation?
Online commentators on the X platform have embraced the news. Rocket emojis, “hello future” comments are rife. Others are hoping to see a surge in the value of HBAR tokens. However, following Trump’s tariff announcement yesterday the crypto market hasn’t reacted well. HBAR has dropped by over 4% since the announcement. Bitcoin and others have also shed some of their value.
One interesting post by @firehustle_net included a diagram showing TikTok’s future with Amazon or with Hedera and OnlyFans. This was the main takeaway of the post:
Scalability
Amazon would make less direct creator incentives if it took over TikTok, with Hedera and OnlyFans blockchain could add Web3 features like NFTs and crypto.
Audience
Amazon could tap the Gen Z audience and strengthen its platforms like Prime. Hedera would have a niche appeal to creators and Gen Z that is consistent with its large online following.
Drawbacks
Both Amazon and Hedera would have their challenges if they ended up owning TikTok. Hedera and OnlyFans don’t have the funds that Amazon does and could have a branding issue. With Amazon it is more about a culture mismatch.
In conclusion, the story has certainly increased interest in all things HBAR and Hedera. The HBAR Foundation is certainly getting the exposure the ecosystem needs. Today’s bid may not appear likely on face value, but it is a sign of things to come. Things that will involve Hedera’s Web3 ambitions.
Author: Andy Samu
#HBARnews #Hedera
See Also:
Will Trump’s Liberation Day Cause a Stock Market Crash? | Disruption Banking
Report Highlights the Growth of the HBAR Ecosystem | Disruption Banking
