Are you ready to have dragons flying over your head while dancing to the latest TikTok trend? TikTok has launched a new creative Toolset called Effect Studio that will allow developers to create their own augmented reality experiences and then make them available on the platform for everyone to use. The toolset is still in private beta mode (so don’t go searching for TikTok Pokemon Go’s just yet) but a new website called Effect House is already accepting applications from interested developers.
TikTok appears to be late to the party, with Facebook (FB) and Snapchat (SNAP) already deeply involved with AR systems. Mark Zuckerberg announced that its Spark AR platform has over 600,000 creators across 190 different countries, while Snapchat launched a $3.5m fund last year towards the creation of AR Lens. Since then, Snapchat has witnessed an accelerated sales growth, with a 116% revenue increase in the second quarter of 2021. Last month, Snapchat further solidified its commitment to AR by buying Vertebrae, a company that allows brands to create 3D versions of their goods.
why it matters
The launch of Effect Studio will undoubtedly make TikTok a more competitive industry rival to Facebook and Snapchat. It may not be a coincidence that Snapchat’s stock fell more than 1.5% today after hearing about TikTok’s involvement with AR.