TikTok has expanded its monetization tools for creators by adding video tips and virtual gifts.
While live tipping and digital gifts have been available for livestream creators since 2020, the expansion adds the feature to regular TikTok videos as well.
To receive payments creators must be eligible for the Creator Next program which means they need at least 1,000 followers and 1,000 video views over the past 30 days.
TikTok said that the new tip feature would enable fans to reward creators for their content. It’s a bit like virtual gratuity or applause and creators receive 100% of the tip.
Payments are being processed by Stripe.
The option could be a serious bonus for many content creators who have been giddy for more ways to make money from their videos.
At the same time, TikTok has decided to lower the threshold for entry to its Creator Marketplace to collaborate with brands.
Until now, they required 100,000 followers to qualify. This has been reduced to 10,000 users.
It’s also a serious bonus to brands and marketers looking for more niche creator collaborations as micro-influencers have been proven useful time and again in the past.