Polkadot is exploring the potential of building a TikTok-like Parachain on its network, opening up new opportunities in the field of SocialFi.
Additionally, there is growing optimism surrounding global events related to the blockchain in the coming weeks.
Speculation is rising on whether the price of DOT could surpass its previous all-time high (ATH) in this market cycle and potentially see a 10x increase.
Frank McCourt, the Founder of Project Liberty and Executive Chairman of McCourt Global, has shown keen interest in acquiring and revamping TikTok on the Polkadot Network, envisioning it as a more enhanced and updated version.
The One Frequency Parachain on Polkadot appears poised to handle the substantial social media traffic volume from platforms like TikTok, showcasing the scalability of Polkadot’s technology. Learn more about why they have chosen Polkadot as their home…
— Radha (@DrW3RK) May 15, 2024
Specifically, the One Frequency Parachain on Polkadot is prepared to manage the high volume of social media traffic from TikTok into Web3 spaces, emphasizing the importance of blockchain technology in giving users ownership and control over their identity and personal data.
In addition to this development, Polkadot has achieved various positive milestones recently. For instance, the Global Accelerator Founder has announced plans to launch the first Web3 Founder Academy in collaboration with Polkadot.
🚀 Stay updated with Polkadot’s latest news from the past week (May 13th – May 19th)
Frank McCourt, Executive Chairman of McCourt Global and founder of Project Liberty, aims to acquire and transform @tiktok_us! The @one_frequency parachain could revolutionize TikTok with Web3 technology! 🔄📱… pic.twitter.com/FMpeVqpmaK
— PolkaWorld (@polkaworld_org) May 20, 2024
Furthermore, the ‘Behind the Code’ documentary series has provided an update on Building the Future of Web3, and auctions of signed copies of the Ethereum Yellow Paper, JAM Gray Paper, and the Polkadot White Paper are ongoing, with the highest bid for the JAM Gray Paper currently at 60,000 GLMR, with all proceeds destined for charitable causes.
Polkadot is also gearing up for exciting events in the near future. The project will be at Consensus 2024 from May 29 to May 31, with a presence at booth 1209 to showcase the brand, ecosystem projects, and offer merchandise to attendees.
Following that, Polkadot Decoded is scheduled for July 11 to 12 in Brussels, Belgium, featuring over 100 speakers and 100 blockchain projects. Noteworthy news includes the inclusion of Polkadot ecosystem project DePIN in Mastercard’s Start Path program.
Amidst these favorable announcements, Polkadot appears well-positioned to capitalize on the upcoming crypto bull run. The question on everyone’s mind is how high DOT’s price will rise and whether it can surpass its previous ATH. Currently, according to CoinMarketCap, DOT is priced at $7.
