DLA Piper is pleased to announce its representation of TikTok in the launch of the video platform’s first ever non-fungible token (NFT) collection.
DLA Piper attorneys on both coasts handled aspects of the negotiation of the agreements with the video creators and NFT platform, as well as various other content and licensing agreements.
Dubbed TikTok Top Moments, the collection features a selection of six videos as one-of-a-kind NFTs and a series of limited-edition NFTs inspired by cultural moments from the platform. The collection will debut this fall starting with digital collectibles from Lil Nas X.
Proceeds will go largely to the creators and NFT artists involved. The NFTs will be made available on Ethereum and will be powered by Immutable X, which uses StarkWare’s innovative technology to create the first carbon neutral Layer-2 scaling solution for Ethereum.
The team representing TikTok was led by Tom Ara, Los Angeles-based partner and co-lead of the firm’s Sports, Media and Entertainment practice, partner Mark Radcliffe (Silicon Valley), of counsels Michael Fluhr (San Francisco) and Alexander Steinberg (New York) and associate Katherine Imp (Los Angeles).