Reddit Co-founder Joins Bid to Acquire TikTok, Plans to "On-chain" It

BlockBeats News, March 5th, according to TheBlock, Reddit co-founder Alexis Ohanian is seeking to acquire TikTok and put it "on-chain." The app plans to integrate the Frequency blockchain, which is a "decentralized social media protocol" that enables users to own their network content.

Ohanian posted a message on X saying, "This is an exciting development in the digital world. I am now officially one of the people trying to acquire TikTok's U.S. operations and put it on-chain. TikTok is a game-changer for creators, and its future should be shaped by them. Users should own their data. Creators should own their audience." Ohanian has joined the bidding team Project Liberty, led by former Los Angeles Dodgers owner Frank McCourt, who previously announced the acquisition bid for TikTok's U.S. operations. Ohanian will serve as a strategic advisor focusing on social media.