TikTok has set up a fund of $ 200 million (about 172 million euros), the company announced in a blog post on Thursday. The video app wants to use this to pay makers for content on the platform.
The video app says it aims to use the TikTok Creator Fund to “support ambitious creators looking for opportunities to build a life with their innovative content.”
TikTok writes that the app will start handing out money later this year. Initially, this only happens in the United States. A TikTok spokesperson tells The Verge that the app plans to make the fund available worldwide, but it is not known when this will happen.
The fund is one of the few ways to make money with the app as a maker. It is now only possible for users to earn money by livestreaming on the platform or by partnering with a company.
TikTokkers can apply for the fund from next month. In order to claim this, they must meet a number of guidelines. For example, users must be eighteen or older and consistently post original videos that meet the TikTok guidelines.
It is not known how many users are eligible for the fund and how much money a creator will receive.