How to participate in the auction of TikTok Top Moments series

On October 12, TikTok’s previously announced NFT series of works, TikTok Top Moments, has been auctioned. The auction is for the work “Bored in the House” by American rapper Curtis Roach. The current bid is 3 ETH .

Previously reported that TikTok, a short video social platform owned by ByteDance, announced the launch of its first NFT series, TikTok Top Moments. The relevant NTF was designed by community-defined creators and inspired by popular videos created by them.

TikTok Top Moments selects six TikTok videos from the most influential creators on the Internet. Each one-to-one NFT is designed to pay tribute to the influence of media creators on entertainment, culture and the TikTok community. Creators include Lil Nas X , Rudy Willingham, Bella Poarch, Curtis Roach, Brittany Broski, etc. TikTok stated that most of the proceeds from NFT sales will be directly used for participating creators and NFT artists.

The currently auctioned NFT works are supported by Immutable X, which is a layer 2 protocol for NFT. And Ethernet Square, compared to the main network, Immutable X allows for lower transaction costs and faster completion time, and with the current workload Ethernet Square proved compared to the energy it uses much less consensus model.

To participate in the auction, you can go to tiktok.immutable.com to view the auction details.

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It is worth noting that, as required, you need to complete the identification process through Veriff before receiving any NFT purchased or won in the auction.

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Log in to Veriff and perform the corresponding KYC certification

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Because this auction is supported by Immutable X, to hold tokens or conduct transactions on Immutable X, you need an Ethereum wallet.

Currently, Immutable X supports MetaMask through a browser plug-in . If you usually use a different tool to manage your wallet, you can import your private key into MetaMask to access Immutable X. Now there is an Ethereum wallet, you can register Immutable X, and enter Immutable X to connect to the wallet.

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After successfully connecting to the wallet, click Inventory to deposit Ethereum to the Immutable X address.

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Deposit a certain amount of Ethereum to ensure that you have enough balance to pay for NFT auctions or sales.

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The wallet is deposited in Ethereum and the connection is successful, return to the auction interface tiktok.immutable.com to submit a bid and enter the auction process.

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Note that during the auction, each bid submitted must be at least 5% higher than the previous bid. It’s important to check if someone is bidding higher than you after you bid. It may take some time for new bids to appear on the website. If there are new bids in the last 15 minutes of the auction, the duration of the auction will be extended by 15 minutes. If there are subsequent bids, the auction duration will be extended by 15 minutes, and so on. The auction will only end when the initial auction period ends and there are no more bids in the last 15 minutes.

After the purchase is complete. The NFT is transferred to you by the creator of the NFT. You can view your TikTok Top Moments NFT on OpenSea or TokenTrove.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/how-to-participate-in-the-auction-of-tiktok-top-moments-series/
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