PANews reported on March 5 that according to The Block, Reddit co-founder Alexis Ohanian is seeking to acquire TikTok to put the social media app "on the chain." The app plans to integrate the Frequency blockchain, a "decentralized social media protocol" designed to allow users to control their online content. Ohanian posted a message on X saying: "This is exciting news for the digital world. I am now officially one of the people trying to acquire TikTok's US business and put it on the chain. TikTok is a game changer for creators, and its future should be shaped by them. Users should own their data. Creators should own their audience."
Ohanian has joined Project Liberty, the bidding team previously announced by former Major League Baseball (MLB) Los Angeles Dodgers owner Frank McCourt to acquire TikTok's U.S. business, and will serve as a strategic advisor focusing on social media.
