The on-chain social app, Chingari on Tuesday launched the world’s first video NFT marketplace, Creator Cuts. As part of the new offering, marquee videos from Chingari’s top creators will be molded as Video NFTs. In addition, buyers holding these NFTs are likely to receive 10% of the daily income in Gari earned by the producer for the engagement received on their videos on the Chingari application.
In its statement, Chingari highlighted that its buyers NFT The engagement on their videos on the Chingari app will get 10% of the daily earnings earned by the producer on the engagement. A different price is fixed for each video based on the activity of the creator on the chingari app. These NFTs can then be bought by anyone (chingari user/non-user).
Sumit Ghosh, Co-Founder and CEO, Chingari and GARI Token said, “At Chingari, empowering and enabling creators to engage actively and internally with their community has been the cornerstone of our success since our inception. Used to be. We believe in the immense potential of the creator economy and are fully committed to its development and democratization spectrum,
“Towards this end, we are always creating unique programs and offerings that are based on a cross-section of popular culture, ecosystem development and our business priorities,” Ghosh said.
Creator Cuts focuses on empowering creators with not only a unique financial and community engagement opportunity, but also enabling the community to connect with their favorite creators by owning a piece of their unique art, as well as Able to get monetary benefits. ,
Ghosh said, “The launch of Creator Cuts is a unique initiative that empowers the creators as well as the community to not only forge deeper connections but grow together in a true sense.”
Chingari, powered by GARI, is the world’s fastest growing on-chain social app launched in 2018. Among the top 20 most downloaded apps globally, Chingari’s eclectic platform entertains over 130 million users, and with over 5 million watch videos in over 15 languages. Daily active users.
Chingari’s native token, GARI enables short-form video makers to monetize their content on the blockchain with the GARI token. Gary Token has received a lot of enthusiasm from the community with around 1.1 million GARI holders in a record time of just 6 months from launch.
With this growth rate, Chingari predicts GARI’s active wallet users will reach 1 million in the next three months. GARI Token has become the top 2 project on the Solana blockchain in terms of number of holders.
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