Chingari launches first-ever video NFT marketplace Creator Cuts

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The on-chain social app, Chin­gari on Tues­day launched the world’s first-ever video NFT mar­ket­place, Cre­ator Cuts. Mar­quee videos from Chingari’s top cre­ators will be mint­ed as video NFTs under the new offer­ing. Fur­ther­more, buy­ers hold­ing these NFTs are like­ly to get 10% of the dai­ly income in Gari earned by the cre­ator for the engage­ment they receive on their videos on the Chin­gari application.

In its state­ment, Chin­gari high­light­ed that buy­ers of these NFTs will get 10% of the dai­ly income in Gari earned by the cre­ator on the engage­ment they receive on their videos on the Chin­gari app. 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 (Chin­gari user/non-user).

Sum­it Ghosh, Co-founder & CEO, Chin­gari and GARI token said, “At Chin­gari, empow­er­ing and enabling cre­ators to engage ef active­ly 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.”

Ghosh added, “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.”

Cre­ator Cuts is focused not only on empow­er­ing the cre­ators with a unique finan­cial and com­mu­ni­ty engage­ment oppor­tu­ni­ty but will fur­ther enable to com­mu­ni­ty to con­nect with their favourite cre­ators by own­ing a piece of their unique art, while also being able to derive mon­e­tary ben­e­fits from the same.

” The intro­duc­tion of Cre­ator Cuts is one such unique ini­tia­tive that 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,” Ghosh said.

Chin­gari, pow­ered by GARI is the world’s fastest-grow­ing on-chain social app launched in 2018. Amongst the top 20 most down­loaded apps glob­al­ly, Chingari’s eclec­tic plat­form enter­tains over 130M users across, and wit­ness­es videos in more than 15 lan­guages with over 5 mil­lion dai­ly active users.

Chingari’s native token, GARI enables short-form video cre­ators to mon­e­tize their con­tent on the Blockchain with the GARI token. Gari token has received great enthu­si­asm from the com­mu­ni­ty with almost 1.1 mil­lion GARI hold­ers in a record time of just 6 months from launch.

With this growth rate, Chin­gari has pre­dict­ed the active wal­let users of GARI to reach 1 mil­lion in the next three months. GARI token has become the top 2 Projects on the Solana blockchain in terms of the num­ber of holders.

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