TikTok's American Ambition Gains Support from Reddit's Creator
In a move that could reshape the social media landscape, Alexis Ohanian, co-founder of Reddit, has announced his involvement in a joint bid to acquire TikTok's U.S. operations. The bid, spearheaded by billionaire Frank McCourt and Project Liberty, aims to transition TikTok to a blockchain-based platform, enhancing user data security and control.
Reuters first reported Ohanian's involvement on March 3. McCourt has confirmed Ohanian's role as a strategic adviser, bringing his extensive experience in social media and his background in blockchain technology to the project.
Ohanian, an early investor in crypto and Web3 projects, has been identified as a strategic adviser for the acquisition initiative. His venture firm, Seven Seven Six, has backed blockchain startups, NFT platforms, and decentralized networks.
The plan involves implementing "Frequency," a decentralized social network protocol powered by Polkadot. This shift from centralized data control to a decentralized system aims to give users control of their data and creators full ownership of their audience.
The joint bid presents a bold alternative to TikTok's current model, potentially reshaping social media ownership through Web3 technology. Ohanian believes that this new TikTok, built on these principles, will be fairer and greater.
However, regulatory scrutiny and national security concerns continue to cast doubt on TikTok's future in the U.S. The bid comes amidst ongoing discussions regarding the app's potential sale to Oracle or Walmart.
As the story unfolds, it remains to be seen whether Ohanian and McCourt's bid will succeed in acquiring TikTok's U.S. operations and revolutionizing the social media industry.
Read also:
- Quantum Computing Market in the Automotive Sector Forecast to Expand to $6,462.13 Million by 2034
- List of 2025's Billionaire Video Game Moguls Ranked by Fortune
- VinFast Accelerates Globally, Leveraging Vingroup's Technological and Financial Foundation
- Transformation of Decarbonization Objectives in the Iron Ore Pellets Sector
