Chingari launches first-ever video NFT marketplace named 'Creator Cuts'

economictimes.indiatimes.com:

Chingari has launched its video NFT marketplace named 'Creator Cuts.' The company said that it is the world's first ever video NFT (v-NFT) marketplace, enabling creators to mint video NFTs Launched in 2018 and powered by 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 marquee videos from top creators will be minted as NFTs. Creator Cuts is aimed at empowering the creators with a financial and community engagement opportunity, along with enabling the community to connect with their favourite creators by owning a piece of their unique art. Creators will be able to derive monetary benefits from the same. Buyers of these NFTs will get 10 per cent of the daily income in Gari tokens earned by the creator on the engagement they receive on their videos on the Chingari app.

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A unique price has been assigned to every video depending on the activity of the creator on the Chingari app. These NFTs can then be bought by anyone, irrespective of being a Chingari user or not. Sumit Ghosh, Co-founder & CEO, Chingari and GARI token, said that empowering and enabling creators to engage effectively and intrinsically with their community has been the cornerstone of our success since its inception. «The introduction of Creator Cuts is one such unique initiative which empowers the creators and the community to not only form deeper connections