Today, Chingari, the world’s most rapidly expanding blockchain-based social platform, announced the release of its groundbreaking new product, Creator Cuts. Creator Cuts is the world’s first-ever video NFT (v NFT) marketplace, representing the company’s dedication to promoting and propagating the creator economy. In this marketplace, video NFTs will be minted based on hallmark videos produced by Chingari’s most successful creators.
The purpose of Creator Cuts is not just to provide content creators with an innovative financial and community outreach opportunity but also to empower users to interact with the creators of their favorite content by purchasing a piece of the creator’s artistic work and doing so in a way that enables them to benefit from the transaction financially.
Customers who purchase these NFTs will be entitled to 10% of the daily income in Gari received by the creator based on the amount of engagement they obtain on their videos hosted on the Chingari app. Each video has been given its own one-of-a-kind price, which is determined by the creator’s previous engagement with the Chingari app. After that, anyone (Chingari user or not) can buy these NFTs to add to their collection.
Introducing Video NFTs for Passive Earning And Creator Rewards
The holders of these vNFTs will get a daily passive income in Gari tokens to the wallet address where these NFTs are held. These benefits will be deducted as 10% of the creator’s daily earnings earned through the use of the Chingari app. For instance, suppose Jack earns 500 GARI tokens on the Chingari app and mints one of the videos as vNFTs on the marketplace for Creator Cuts. Jill purchases this vNFT for X, and according to the terms, she will receive 10% of Jack’s daily earnings or 50 GARI tokens in this case.
In addition, the prizes that are gained by creators through the various aspects of GARI Mining are referred to as the creator’s earnings. In addition to earning GARI tokens through the sale of its vNFTs, the creator will also be able to earn GARI tokens by participating in in-app activities, including watching, sharing, and uploading videos. Please take into consideration the fact that the daily GARI revenues of the creator may change depending on their contribution score. Nonetheless, the 10% proportion will not change.
The Immense Potential Of The Creator Economy
Since the company’s beginning, the key to Chingari’s success has been in its ability to enable and empower creators to engage in a manner that is both successful and intimately connected to their community. Chingari believes in the vast potential of the Creator Economy and is devoted to its expansion and democratization on a global scale. In this regard, Chingari is always innovating and developing novel programs and propositions that stand at the intersection of popular culture, ecosystem development, and its economic aims.
One of these one-of-a-kind initiatives is the launch of Creator Cuts, which not only enables the community and its artists to develop deeper ties with one another but also allows them to grow together in the most literal sense of the word “together.” Chingari, powered by GARI, is the 2018 world’s fastest-growing blockchain-based social app. The application developed in-house has become the go-to source for fun, engaging videos in numerous categories, like dancing, singing, transformation, inventive talents, etc.
Chingari’s diverse platform amuses over 130 million users throughout the world, and it witnesses videos in 15 or more languages with over 5 million daily active users. Chingari is also one of the top 20 applications that are downloaded the most around the world. Gari token is the largest social token in the world. The GARI token, which is Chingari’s native token, enables short-form video makers to sell their content on the Blockchain. The GARI token is now one of the top two Projects on the Solana blockchain in terms of holder count.