TikTok has officially announced the discontinuation of its $2 billion Creator Fund, an initiative launched in 2020 with the aim of financially supporting eligible content creators on the platform.

A spokesperson for TikTok confirmed this decision on Monday.

The Creator Fund was initially established to “help support ambitious creators who are seeking opportunities to foster a livelihood through their innovative content” by providing them with financial support distributed over a span of three years, as outlined in a July 2020 press release from TikTok.

The fund’s allocation of resources was based on the creators’ respective contributions to the overall viewership of the platform, NBC News reported.

Following the launch of the fund, numerous creators expressed their concerns, indicating that it was posing challenges to monetization on TikTok.

Written by B.C. Begley