Chingari, the world’s fastest-growing on-chain social app has launched the first-ever video-NFT marketplace called Creator Cuts. The marketplace adds to Chingari’s commitment to fostering and proliferating the creator economy.
Speaking at the launch of the NFT marketplace, Mr Sumit Ghosh, who is the Co-founder & CEO of Chingari and GARI token said:
“At Chingari, empowering and enabling creators to engage effectively and intrinsically with their community has been the cornerstone of our success since our inception. We believe in the immense potential of the Creator Economy and are wholly committed to its growth and democratisation across the spectrum. Towards this, we are always innovating and creating unique programs and propositions which lie at the cross-section of popular culture, ecosystem growth and our business priorities. The introduction of Creator Cuts is one such unique initiative which empowers the creators as well as the community to not only form deeper connections but also grow together in the truest sense of the term.”
Creator Cuts is the first ever video-NFT (V NFT) marketplace and it will allow marquee videos from Chingari’s top creators to be minted as video NFTs.
How Creator Cuts will work
Besides empowering creators with a unique financial and community engagement opportunity, Creator Cuts will also enable the community to connect with their favourite creators by owning a piece of their exclusive art while also being able to derive some monetary benefits.
Buyers of the video NFTs will earn 10% of the daily income in the GARI token that the creator receives. That means the revenue generated by the videos is shared between the creators and the buyers of the NFTs.
Creators on the Chingari app can mint their videos and sell them on the Creator Cuts to increase their revenue. A unique price is assigned to each video depending on the activity of its creator on the Chinagri app.
The minted video NFTs can be bought by anyone; either a Chinagri use or non-user.
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