HBAR Foundation, the body linked to the Hedera blockchain, has inked a partnership with OnlyFans founder Tim Stokely to submit a late bid for TikTok. The crypto firm and a startup run by Stokely, Zoop, are taking on tech giants like Amazon for the micro-messaging and video platform.
HBAR Foundation Eyeing Diversification
According to the Reuters report, HBAR Foundation and Zoop sent the Intent to Bid to the White House earlier this week.
“Our bid for TikTok isn’t just about changing ownership, it’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate,” Zoop co-founder RJ Phillips revealed in an interview with Reuters.
As noted, the duo has been working alongside several investors to achieve the current goal. Retail and tech giant Amazon is among the bidders for TikTok. While it remains uncertain what the fate of HBAR Foundation is in the proposed bid, the move shows how much premium crypto firms are now placing on diversification.
This is a developing story, please check back for updates!
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