Video content creators using the app may monetize their work by selling it on Creator Cuts.
The owners of video NFTs will engage in the producers’ 10% daily portion of the GARI revenue.
Today, Chingari, the world’s fastest-growing on-chain social app, announced the release of its groundbreaking new product: Creator Cuts. It is the first-ever video NFT (v NFT) marketplace and is reflective of Chingari’s dedication to promoting and expanding the creator economy by minting video NFTs based on the most popular videos produced by Chingari’s top artists.
The purpose of Creator Cuts is to provide artists with a new way to make money and connect with fans, while simultaneously allowing fans to bond with their favorite creators by purchasing a piece of their original work and reap the financial rewards of doing so.
Mr. Sumit Ghosh, Co-Founder & CEO, Chingari & GARI token, stated:
“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.”
These NFTs will provide their purchasers 10% of the creator’s daily revenue in GARI Token generated from views and likes on their videos shared using the Chingari app. Each video has its own pricing determined by the creator’s activity on the Chingari app. Any individual whether they use Chingari or not is then free to purchase these NFTs.