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The HBAR Foundation has presented a new proposal in collaboration with Tim Stokely, the founder of OnlyFans, aimed at acquiring the China-based social media application TikTok. This initiative seeks to restructure the platform’s social framework and create a model that directly benefits content creators.
HBAR and TikTok
It has been reported that Stokely and the HBAR Foundation submitted their proposal to the White House last week. The offer is said to have been facilitated through the newly established crowdfunding company Zoop.
RJ Phillips: “Our proposal aims to provide a new model benefiting content creators and their communities rather than changing ownership.”
The proposal emphasizes an innovative approach that ensures the value generated by creators returns to them. This may require evaluating elements influencing different strategies and community relations for companies.
This approach is seen as having the potential to alter the current dynamics of the application.
The HBAR Foundation is the organization behind the Hedera (HBAR) smart contract platform, launched in 2018. The platform is notable for its proof-of-stake operation and has secured a significant position in financial markets. The foundation’s proposal reflects an effort to integrate technological infrastructure with the social media realm.
Competition for TikTok
In addition to this proposal, media reports indicate that e-commerce giant Amazon is also interested in TikTok. This scenario reveals various strategies from players across different sectors, aiming to maintain a dynamic competitive landscape on the platform.
While TikTok attracts attention with its vast user base and productive content ecosystem, the proposals offer diverse alternatives for the platform’s future.
Observations suggest that changes arising during the implementation of the proposal merit attention. The current competitive environment and market dynamics have the potential to amplify the impact of decisions made in the future.
