Alexis Ohanian, co-founder of Reddit, announced his involvement in a consortium led by Frank McCourt, aiming to purchase TikTok and transition the platform to a blockchain model. They believe this approach will empower users and creators by giving them control over their data and audiences. The group, including 'Shark Tank' star Kevin O'Leary, intends to redefine TikTok's future, adhering to a vision where digital communities are governed by their members. This bid comes amidst ongoing discussions about TikTok's ownership and future in the US market.
Ohanian said, "Users should own their data. Creators should own their audience. Period," emphasizing their commitment to decentralization and user empowerment in social media.
In his X post, Ohanian described the vision for TikTok: "We're setting a new standard for what's possible in digital communities. A TikTok for the people, by the people."
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