With non-fungible tokens (NFTs) being a hot commodity these days, TikTok is also venturing into the NFT space as well with their first collection. Called TikTok Top Moments, the collection comprises of trending videos made by their creators and is their way of helping them achieve heir goals in the growing creator economy.

“TikTok NFTs provide a way for creators to be recognized and rewarded for their content, and for fans to own a culturally-significant moment on TikTok,” TikTok said in their press statement.

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. That solution is important, as it reduces gas fees to zero.

For its first NFT collection, TikTok has a number of big names headlining it. These include artists like Lil Nas X, Bella Poarch, and Gary Vee, and prominent creators like Grimes, COIN ARTIST, and RTFKT.

Proceeds of all the earnings from these NFTs will go directly to the artists involved. The first set of NFTs were auctioned on October 6, with more limited creation pieces to be released weekly throughout the month.

“Now, fans can own a moment on TikTok that helped shape the internet while supporting some of their favorite creators. We’re excited to see how our community and NFT communities engage with some of the internet’s most beloved cultural milestones,” TikTok Global Marketing Head Nick Tran said.