Previously perceived as solely a hype machine, NFTs are continuing to gain widespread adoption, offering a potentially new future for social media as we know it. BeautyMatter has highlighted them as an impeccable marketing tool for both large conglomerates such as LVMH and indie brands. Meanwhile, platforms such as TikTok bear witness to not just the latest beauty trends, but also emerging subcultures among consumer audiences.
Now, in a marriage of the social media and gaming worlds, TOKHIT is creating a blockchain-fuelled platform worth an estimated $155 million according to Venture Capital, with an expected 5-7 million users in the first year alone.
Founders Cristian Voaideș and Andrei Ureche created an ad-free app in which created content can automatically be converted into NFTs, with TOKHIT’s designated HITT cryptocurrency powering all NFT transactions and access to premium content. Content creators are rewarded with so-called Diamond Coins for their activity on the platform, which they can convert into physical cash, with an AI objectively assessing the worth of their content based on user interactions.
Audio communication, which has made the likes of Clubhouse such an overnight success due to their authentic and immediate nature, present the main method of interaction on TOKHIT. There will also be an interactive game where users can distribute AirHugs, or digital hugs, to others on the app.
“We will offer, through this platform, an algorithm that does not impose limitations, in a social network without advertising. We democratize access to resources, we give back power to users,” Ureche comments. “TOKHIT will be a change of perspective for both content creators and also for brands, who will have the opportunity to interact with their audience in a more creative way than ever before.” Those wanting to get in on the action early can already purchase HITT tokens on the company’s website.
With the promise of an online space that prioritizes individual authority over product campaigns, TOKHIT has the potential to offer a lucrative and welcoming space for its users. Although it remains to be seen if this power can pull millions of users away from the likes of Twitch, TikTok, and Instagram, its cryptocurrency-powered basis gives it a competitive edge for the future.