- 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.
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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