HBAR Foundation Partners with OnlyFans Founder in Ambitious TikTok Bid
03.04.2025 00:19
The HBAR Foundation, the force behind the Hedera (HBAR) network, has teamed up with Tim Stokely, founder of OnlyFans, to submit a bid for acquiring the Chinese social media app TikTok. The duo's bid, channeled through the family-friendly crowdfunding firm Zoop, aims to create an ecosystem where creators and communities gain direct benefits from the generated value. This strategic move comes at a time when other major players, including online retail giant Amazon, are also showing interest in acquiring TikTok. Initiated via a submission to the White House, this bid represents a novel attempt to reshape digital engagement and user monetization. Minor short-term impact is evident from HBAR's 1.5% increase in the last 24 hours, reflecting cautious optimism among investors. The partnership signifies a potential paradigm shift in merging social media influence with blockchain technology, highlighting HBAR's evolving role in the broader crypto market.
The news is expected to have a positive impact on HBAR's price due to the high-profile partnership and strategic bid. In the short term, the 1.5% price increase indicates initial investor optimism and the potential for increased trading volume. Key factors include the enhanced visibility from collaborating with Tim Stokely and the innovative approach to linking social media and crypto, which may attract further institutional interest. Over the long term, success in this high-stakes bid could significantly boost HBAR’s credibility and utility, leading to broader adoption. However, competition from major companies like Amazon adds an element of uncertainty, so while immediate market reaction is moderately positive, sustained growth will depend on the bid’s progress and regulatory responses.
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