TikTok Holds Virtual Event, & Discusses New Features For Upcoming Time

TikTok has fully launched its Creator Marketplace and is expanding the TikTok Shopping department, as announced at the TikTok World virtual convention.

TikTok World was an invite only online event that essentially acted as a platform for revealing all of the new and upcoming updates TikTok has in store for its userbase. Ever since the pandemic, virtual events have become increasingly popular. TikTok's ever constant growth as a short form video streaming platform, and as one of the most successful social media sites of today, warranted a channel that could be used to discuss exciting and interesting developments up and coming. All of this coalesced into TikTok World, revealing a plethora of new features and format changes that users could benefit from.

A major announcement at the event was linked to the highly anticipated Creator Marketplace. TikTok's become a very lucrative source of revenue, with many influencers forming entire careers out of the platform. This in turn benefits the platform as well, with more advertisers and investors looking to spend their money on such an active hub. Thus, the Creator Marketplace was introduced, offering up more incentive for influencers and celebrities to join the platform. The Marketplace is a collective database that advertisers can use to hire TikTokers for sponsor deals and collaborations. The space features popular performers on the platform, as well as insights and other data relevant to them. It's a good way to keep both sides of a sponsorship deal happy, and everyone wins!

The feature had been in beta for quite a while, as devs tested both technology and early reception. However, it was announced at TikTok World that the feature had finally come out of beta testing and has been launched as a full fledged space on the TikTok app proper. Currently, the database features approximately 10,000 users from across 10 different countries. However, expect that number to only expand in the coming years.

TikTok's also been looking a lot into e-commerce and how it could benefit from the online niche. Recently, it has launched limited campaigns in Indonesia and the UK where the platform acts as a go-between for users and merchants, even handling shipping on it's own. Naturally, there's a cut of the profits that TikTok is expected to take as well, but it's still a pretty good deal.

TikTok's announced that it will also be working with third party platforms such as Shopify, harnessing their backend tools to provide sellers on the platform with a big boost. TikTok will also be launching it's own shopping API, which will let merchants add their shopping catalogues directly to their TikTok accounts, making them a natural part of content generation.

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