Instagram allegedly offered thousands of dollars to lure high-profile TikTok creators into using its new service Reels.

This was based on a Wall Street Journal report published on Tuesday, July 28, as shared by Business Insider.

While the Journal did not mention the names of involved creators who had been approached by Facebook, but this shows a direct competition between ByteDance-owned TikTok and Facebook.

According to NBC News, Facebook will launch Instagram Reels, a short-form video platform in the United States, Japan, the United Kingdom, and other 50 countries in a matter of weeks or probably in August. Currently, it is already being tested in Brazil, India, Germany, and France.

Reels will be shown in Instagram's Stories and is seen as TikTok's direct rival. However, short videos are only limited to 15 seconds, while TikTok allows up to 60 seconds.

While TikTok gave Facebook a run with 2 billion downloads in April across the globe with a huge fan-base among the youth. However, Facebook eyes to snatch the throne again. And with the security woes that the U.S. government continuously build over the Chinese app, it would be easy.

Also, Reels has another huge market in India where TikTok is now banned. Tech Times reported on July 6 that while the Chinese app is highly popular in India, the Asian country banned TikTok along with other 58 apps that pose a threat to national security.

Read also: TikTok Loses India, Now Instagram Swoops in With 'Safer' Reels App

Instagram Reels: How to Use

Just like TikTok, Instagram Reels can be used to record a clip with music. Reels would be somehow familiar to those avid TikTokers. Here is how to do it:

  • First, users may choose to pick music from Instagram's huge library, copy the audio from another video, or record their original soundtrack.
  • They will be shown a video countdown timer, and they will have an option to adjust the video speed.
  • Once done filming the video, users can opt to share their Instagram Reels on Instagram Stories, send it directly to a certain user or group of users, or add it to a new Reels tab on their profile.

Surely, Reels will make Instagram Stories more fun and engaging.

TikTok Aims to Inspire Creative Minds with Creator Fund

TikTok has recently launched on July 26, a $200 million "creator fund," which will be used to pay users for the content they make. The fund will be distributed among users in the U.S. by 2021--expected to increase to more than $200 million.

According to the Search Engine Journal, the fund aims to support creators who seek "opportunities to foster a livelihood through their innovative content." TikTok hopes to encourage creative minds to use their voices and creativity to create valuable careers.

TikTok will begin accepting applications for the TikTok Creator Fund in August. To be eligible to join, users must be at least 18 years old, living in the U.S. with a huge army of followers, and post original content in accordance with community guidelines.

Read also: YouTube Stories Rolling Out To More Creators: How Is It Different From Instagram, Facebook?

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