Illustration by Nick Barclay / The Verge
TikTok is introducing a new way for creators to earn money — or at least take a chance at it.
The new monetization feature is similar to creator funds, except they’re set up by advertisers: A pool of money is set aside and creators are able to submit content for a chance at being selected by a brand. Creators then earn money from the pool based on metrics like views, clicks, and conversions. The program, called Creative Challenge, is open to users 18 years old and up who have at least 50,000 followers.
Videos submitted to the program must be “high-quality, well-edited, original content,” according to TikTok, meaning spammy low-effort content likely wouldn’t cut it. It also means that creators making ads for Creative Challenge are doing…