One of TikTok’s initiatives is coming to an end. The Verge reports that the social media company’s $1 billion creator fund, created in 2020, is shutting down. As of Dec. 16, TikTok spokesperson Maria Jung shared that creators based in the U.S., UK, Germany, and France will no longer be able to monetize their videos through the fund, per the outlet.

TikTok has just announced a $200 million program dedicated to funding the ideas of its top U.S. creators, TechCrunch reports . Referred to as the TikTok Creator Fund, the money invested in this program will aim to help the most popular “eligible” creators on the platform to earn a livelihood, according to TikTok . “To further support our creators, we’re launching the TikTok Creator Fund to encourage those who dream of using their voices and creativity to spark inspirational careers,” TikTok shared in a statement on their website. The U.S. fund will start with its initial $200 million investment to support creators seeking more opportunities to make a living off their innovative content and will be distributed over the next year as it’s expected to grow. TikTok already helps its creators secure brand partnerships and sponsorship deals as well as monetization for live-streams, according to TechCrunch, but this fund will allow its users to directly profit from their videos posted on...