Home Investing Chingari launches first-ever video NFT marketplace

Chingari launches first-ever video NFT marketplace

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Chingari (GARI/USD), an Indian-based on-chain social app powered by the GARI token, has launched Creator Cuts, the world’s first-ever video NFT marketplace.

Empowering the creator economy

Announced today, 23 August, Creator Cuts is a revolutionary project set to boost the growing creator economy. What the marketplace offers is a platform on which Chingari app users can mint unique videos as NFTs. 

Creators of video NFTs (v NFTs) can then leverage the marketplace’s massive community reach to sell creations, benefitting from not only great fan connection, but also ways to tap into a new revenue stream.

For buyers of the unique video NFTs, the app offers a 10% of proceeds the creator gets. These will be paid daily, based on total engagement on the app and will be available in the native GARI token.  

Chingari’s Creator Cuts is also offering the creator community a unique platform that’s designed to allow for creators to sell to non-Chingari users – providing another channel to engage with supporters while at the same time getting to benefit financially.

Sumit Ghosh, the co-founder and CEO of Chingari and GARI token, commenting on the social app’s newest project, noted:

“At Chingari, empowering and enabling creators to engage effectively 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. 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. The introduction of Creator Cuts is one such unique initiative which 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.”

Chingari has seen massive growth since its launch in 2018, uniquely positioned as the biggest social app in India. The on-chain social platform has over 130 million users, with more than 5 million daily active users and provides access to video entertainment in more than 15 languages. 

The GARI token is built on top of the  Solana blockchain and is available on major trading platforms.

The post Chingari launches first-ever video NFT marketplace appeared first on Invezz.

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