TikTok to Launch Live Creator 🤳 Subscriptions in Beta

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TikTok to Launch Live Creator 🤳 Subscriptions in Beta

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Short-form video-creating platform TikTok is launching a new feature on its platform called the “Live Subscription” to help its creators get more support from their fans.

The new feature, which is aimed to take on rival companies like Twitch and YouTube, will provide similar offerings from rival streaming sites.

It will offer subscribers a range of perks, including subscriber-only chat, custom emotes, badges, and even the ability to control streamers’ cameras.

TikTok will officially roll out the feature into beta testing on May 26, initially with a select number of creators who have been invited to participate, according to an announcement posted on the TikTok Live Creator page.

TikTok will only allow creators who are more than 18 years of age and have over 1,000 followers to participate in their LIVE subscription feature.

The company has invited a variety of creators to try out subscriptions, including vloggers, beauty experts, artists, musicians, dancers, and more.

Klarna Lays Off 10% of Its Workforce ✂️ Through a Video Message 📹

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Buy now, pay later (BNPL) firm Klarna is laying off 10% of its workforce, CEO Sebastian Siemiatkowski told staff via a pre-recorded video call on May 23.

The Swedish payment giant currently employs around 7,000 people. Cutting 10% of the company’s staff means that about 700 employees will lose their jobs. This move will potentially affect all domains and offices around the world.

While making the announcement, Klarna co-founder and CEO Sebastian Siemiatkowski said, “I am no stranger to sharing good and bad news. However, today is the hardest one to date.”

He added, “As much as we may like it to be the case, Klarna does not exist in a bubble.”

In the coming days, few employees in Europe will be asked to leave the company in exchange for severance pay.

Some employees outside of Europe will also have to leave the company, but the severance process for employees will “look different” depending on the work location.

Gamestop Launches Its Own Wallet For Crypto And NFTs 🎀

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American electronics retail company GameStop has launched a beta for its very own Ethereum wallet that will let users store, send, and receive both cryptocurrency and non-fungible tokens (NFTs) through their web browsers.

The newly launched wallet is currently available as an extension for Google Chrome and Brave, allowing gamers to acquire, send and store Ether (ETH), ERC-20 tokens, and NFTs through a self-custodial browser extension running on the Ethereum blockchain. The company is also planning to launch an iPhone app in the future.

“It’s official! The GameStop Wallet is here. Download: https://wallet.gamestop.com,” GameStop said in a Twitter post.

The wallet will run on Ethereum’s Loopring layer-2 scaling protocol designed for decentralized exchanges (DEX), which has low-cost trading, high throughput, and payment capability.

Users can download and install the wallet extension through the Chrome Web Store. GameStop Wallet will integrate with its upcoming NFT marketplace, which is scheduled for launch in the second quarter of this year.

Online Used Car Marketplace Sylndr Secures $12.6 Million in Pre-Seed Funding 💰

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Sylndr, an Egypt-based online marketplace for used cars, has raised $12.6 million in its pre-seed funding round.

The funding was led by RAED Ventures, along with participation from Algebra Ventures, Nuwa Capital, 1984 Ventures, Global Founders Capital, and a group of regional and global angel investors.

Founded in 2021 by El Defrawy and Amr Mazen, Sylndr is an automotive-focused e-commerce marketplace bringing innovation to the used-cars market, where customers can reliably and transparently buy and sell cars.

The online marketplace is aiming to build trust in the used-car market by becoming the go-to place for customers seeking to sell and buy their cars through an extensive range of high-quality used vehicles accessible across a diverse set of financing solutions.

Sylndr will allocate the latest proceeds to build its operational capabilities, technological infrastructure, and brand awareness.

In addition, the company also plans to use the capital to increase its headcount and develop a superstar team able to actualize the company’s ambitious vision.

Around the Web 🌐

Airbnb is Closing Its Business in China: Airbnb will shut down its domestic business in China after two years of lockdowns in the country with no end in sight. The home-sharing company will reportedly take down all listings in China — homes & experiences, by this summer.


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