New Delhi, Aug 23 : App for making short videos Chingari on Tuesday launched its first ever video non-fungible token (NFT) marketplace, Creator Cuts, to allow creators to mint their videos and then sell videos on the marketplace.The platform announced that Creator Cuts will let users of these NFTs earn 10% of the daily earnings in Gari the platform’s native token which is earned by the creators based on the engagement they receive from their video content on the Chingari app.
“At Chingari, empowering and creating the conditions for creators to interact effectively and in a meaningful way with their communities has been the basis of our achievements since our inception,”ASumit Ghosh Co-founder and CEO of Chingari as well as the GARI token GARI token, said in an announcement.
“We are convinced in the tremendous potential of the Creator Economy and are dedicated to its expansion and democratisation across the board,” Ghosh added.
A unique price is assigned to each video based on the activity of the creator through the Chingari app.These NFTs can be purchased by anyone, Chingari user or not.
“Towards this we are constantly innovating and developing unique programmes and concepts that sit at the intersection of the popular culture industry, ecosystem growth , and our business goals,” Ghosh said.
“The launch of Creator Cuts is one of the most unique initiatives that allows creators and the audience to not only create more intimate connections, but also be part of a community in the most authentic sense of the word,” he added.
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