TikTok is adding a new feature, the ability to send digital “gifts”, which will allow users to earn money creating content.
These additions to TikTok are part of a suite of monetization tools called Creator Next, which includes five ways to make money.
Here’s more about the new features and who qualifies to use them.
New ways to make money on TikTok
TikTok’s new tipping feature allows users to send money to other users to show gratitude for the content they create.
When you tip on TikTok, you will keep 100% of the tip value.
Payments are facilitated by Stripe. If you haven’t signed up for Stripe, you will have to create an account to receive tips.
A processing fee will apply when tips are sent, which is how TikTok makes money since it doesn’t take a cut from the recipient.
Users eligible to receive tips will display a new icon on their profile. More information on eligibility requirements is provided at the end of this article.
After clicking the icon, users can choose to send a $5, $10, $15, or custom tip amount.
Note that if you tip, other users will be able to see the tip and how much money you sent. If you do not want this information to be published, choose the anonymous tipping option.
Users can tip a maximum of $100 per transaction and a total of $500 per day. Users are limited to 100 transactions per day.
If you’ve been using TikTok lately, you may have noticed that a new gift box icon has appeared on users’ videos.
This is TikTok’s new gifting feature, which allows users to send virtual gifts for specific videos.
They are kind of like Reddit prizes, except that the recipient can redeem them for real money.
A number of benefits come with receiving gifts. First, it leads to a boost from the TikTok algorithm:
“…the main metric that TikTok uses to assess a video’s popularity is the number of gifts sent to the creator’s content.”
Second, creators receive “diamonds” when users send virtual gifts, which is the name for TikTok’s digital currency.
After accumulating enough diamonds, users can exchange them for money by selecting the “Withdraw” option from their TikTok account.
These are the eligibility requirements for tips and video gifts:
- 18+ years old
- At least 1,000 video views in the past 30 days
- You have at least three posts in the last 30 days
- An account in good standing with the TikTok Community Guidelines
- Be a resident of the United States, United Kingdom, Germany, France, Italy or Spain
- Meet minimum follower requirements (which vary by region)
These monetization possibilities will be expanded to Canada and Australia at some point in the future.
Business accounts are not qualified For TikTok monetization features.
With these requirements met, you will be able to sign up for TikTok Creator Next.
Finally, after signing up for Creator Next, you can run these features from a Settings and privacy page.
For more information, see TikTok’s Help guides.
Featured image: Mehaniq/Shutterstock