The use of TikTok in Europe has been slow, despite its global popularity. In response to this, the company is launching a new app in several EU countries. The new app, called Coin App, is a modified version of TikTok that focuses on rewarding users for consuming content and engaging with the platform.
The rewards app will feature a feed where users can share and comment on content, as well as upload their own. Accumulated rewards can be exchanged for tips for creators or gift certificates from various services. This initiative aims to attract users beyond just teenagers and stimulate growth in the EU region.
TikTok’s parent company, ByteDance, has already seen success with the rewards app in Japan, where user numbers increased significantly. The company is hoping to replicate this success in Europe and other regions as part of its strategy to increase its user base and compete with other social media platforms in the region.
Overall, the introduction of the rewards app highlights TikTok’s commitment to expanding its presence in Europe and attracting a wider range of users by leveraging historical forex data and understanding market dynamics.
