Content creation Chingari mobile app has launched the NFT video marketplace called Creator Cuts. The company said it is the world's first marketplace for video NFTs (v-NFTs), allowing creators to launch NFT videos.
Launched in 2018 with the support of Gari Token, Chingari is an on-chain social app and claimed this launch as a revolutionary new offering, fostering and proliferating the creator economy. However, only the featured videos from the best creators will be coined as NFTs.
Creator Cuts aims to empower creators with the opportunity for financial and community involvement, as well as empowering the community to connect with their favorite creators by owning a piece of their unique art.
Content creators will be able to obtain financial benefits from it. NFT buyers will earn 10 percent of daily earnings in Gari Tokens that creators earn for the engagement they receive on their Chingari videos.
Each video has a unique price based on the creator's activity on the Chingari app. Anyone can buy NFTs, regardless of whether they are Chingari users or not.
Empowering creators and allowing them to actively and substantively engage with their community has been a cornerstone of our success since its inception,” said Sumit Ghosh, Co-Founder and CEO of Chingari and GARI token.
He added, "The introduction of Creator Cuts is a unique initiative that allows creators and the community to not only forge deeper connections, but grow together in the truest sense of the term."
Chingari has more than 130 million users who create content in more than 15 languages. The app has more than 5 million daily active users. Created on the Solana blockchain, the Gari token is the origin of Chingari, a social token used to monetize content.
Also Read: Meesho digitises 30,000 small businesses in WB