This is the best summary I could come up with:

TikTok will host a music contest similar to popular talent shows like The Voice, the company announced today.

The competition, called Gimme the Mic, will be held on TikTok livestreams and will incorporate live voting from fans as part of the contest.

Old songs that go viral reappear on Billboard charts, and short snippets of tracks from relatively obscure artists break into the mainstream.

The Gimme the Mic contest could be another way for musicians to find success — but the upfront rewards of winning the competition appear underwhelming, and that’s putting it nicely.

The winner of the US competition will receive 50,000 “Diamonds,” TikTok’s in-app currency that can be exchanged and withdrawn for actual money.

TikTok typically keeps 50 percent of creators’ earnings from in-app gifts, but spokesperson Zachary Kizer told The Verge that competition prizes won’t be subject to the tax.

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