Alexis Ohanian, Reddit’s co-founder, confirmed his involvement in a consortium aiming to acquire TikTok’s U.S. operations. Partnering with Project Liberty, led by Frank McCourt, Ohanian seeks to transition the platform onto a blockchain. This move responds to looming U.S. bans over national security concerns tied to TikTok’s Chinese parent company, ByteDance.
“I’m officially now one of the people trying to buy TikTok US and bring it on-chain,” Ohanian declared in a March 3 post on X. His vision prioritises user data ownership and creator autonomy, challenging traditional social media models.
How will New TikTok Look?
The bid centres on frequency, a decentralised protocol built on Polkadot’s blockchain infrastructure. Frequency promises users control over their digital identities and data, shifting power from corporations to individuals. Ohanian argues this framework aligns with TikTok’s creative community.
“Users should own their data. Creators should own their audience. Period,” he stated. Project Liberty’s proposal aims to “rearchitect” TikTok, embedding transparency and accountability. This will help creators directly monetise content without intermediaries, while businesses forge stronger customer connections.
A History of Blockchain Advocacy
Ohanian’s blockchain enthusiasm predates this bid. In 2022, Reddit invested in Bitcoin, Ethereum, and Polygon, later selling most holdings by late 2024. The platform also launched Reddit Collectible Avatars and Polygon-based NFTs granting profile customisation perks. However, NFT sales dwindled alongside crypto markets, prompting Reddit’s blockchain rewards service, Community Points, to shutter in 2023.
Despite setbacks, Ohanian remains undeterred. His venture firm, Seven Seven Six, funds blockchain startups, reflecting his long-term commitment. Notably, he purchased 50,000 ETH in 2014 at $0.30 and bought Serena Williams engagement ring using crypto.
Addressing National Security and Market Pressures
The U.S. government mandates ByteDance divest TikTok’s American assets or face shutdown, citing data privacy risks. Ohanian’s bid offers a decentralised solution, potentially easing regulatory fears. By migrating TikTok to frequency, data control shifts to users, mitigating foreign exploitation concerns.
Project Liberty’s “People’s Bid” emphasises digital independence. McCourt asserts this model sets a “new standard” for social platforms. If successful, the acquisition could redefine data governance, merging innovation with national security interests.
Redefining Social Media’s Future
Ohanian envisions a TikTok where algorithms don’t dictate visibility and creators govern their audiences. This aligns with his 2021 attempt to build a Solana-based social network, which stalled due to ties with FTX’s Sam Bankman-Fried. Nevertheless, his latest effort underscores a broader mission: decentralising the internet. “This new TikTok won’t just be fairer; it’ll be GREATER,” he tweeted.
Ultimately, Ohanian’s bid merges idealism with pragmatism. By leveraging blockchain, he tackles data exploitation while preserving TikTok’s cultural impact. Challenges remain, including technical hurdles and market adoption. Yet, his blueprint for a user-centric platform could inspire industry-wide shifts. As debates over digital ownership intensify, Ohanian’s gamble may redefine how billions interact online.
Written By Fazal Ul Vahab C H
