The Hbar Foundation is collaborating with Zoop, a company launched by the founder of Onlyfans (Tim Stokely), in an attempt to acquire Tiktok’s operations within the United States.
Zoop, Hbar Foundation Aim for New Creator Paradigm
The Hbar Foundation, which oversees the financial resources of the Hedera cryptocurrency network, has partnered with Zoop, a company founded by Tim Stokely, the creator of Onlyfans, in an attempt to purchase Tiktok from ByteDance.
A Reuters report said the bid, sent to the White House, comes as Tiktok faces an April 5 deadline to either sell its U.S. operations or face a ban on national security grounds. The New York Times reported that Jeff Bezos’ Amazon has also submitted a last-minute offer to buy the popular social media app.
Reports suggest that other potential suitors for TikTok apart from Microsoft include Project Liberty headed by Frank McCourt, Kevin O’Leary, U.S. venture capital firm Andreessen Horowitz, Oracle, and private equity firm Blackstone, who are all reportedly engaged in discussions about the acquisition.
As per the report, Stokely’s venture, Zoop, is a widely accepted and child-safe platform that acknowledges content creators for boosting user interaction. Unlike Onlyfans, it’s said to return most of its earnings to those who publish on the site, rather than having a large portion of users generate and share explicit adult content.
According to reports, Zoop’s alliance with Hbar Foundation is intended to establish a novel system that allows creators and their communities to reap the rewards directly from the value they produce.
Discussions regarding potential deals have mainly focused on increasing the shares and buying the U.S. operations of TikTok by major non-Chinese investors in Bytedance. It’s said that the White House is acting as an intermediary, while U.S. Vice President JD Vance is anticipated to oversee the bidding process.
In a successful scenario, the collaboration between Zoop and Hbar Foundation might reshape Tiktok’s business approach. This could involve incorporating cryptocurrency transactions and compensating content producers with Hedera’s HBAR digital tokens.
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2025-04-03 07:58