It was just a matter of time. Instagram is coming for TikTok with a direct competitor called Reels.
Reels allow users to create short-form videos set to music just like TikTok, with an array of effects and filters over the top of them.
In addition, Instagram has revamped its Explore page as a new way to build a following.
Reels also offers both private and public options.
Instagram has no plans to pay creators. However, TikTok is beginning to pay some creators.
More Here: https://www.washingtonpost.com/technology/2020/08/05/tiktok-instagram-reels-facebook/