Fostering the Creator’s Economy
Creator Cuts is the marketplace where selected videos from Chingari’s top creators will be minted as video NFTs. According to the company’s representatives, this move would foster a creative economy on the world’s fastest-growing on-chain social platform.
Creators using the Chingari app can mint their videos and sell them on Creator Cuts to multiply their revenue stream. A special price has been assigned to every video depending on the activity of the creator on the Chingari app.
Furthermore, buyers of video NFTs will get 10% of the daily income in Gari (GARI) tokens earned by the creator on the engagement they receive on their videos on the Chingari app. NFTs can then be bought, and passive income can be earned not only by Chingari users as they are transferred to the NFT holder’s wallet.
Gari token is Chingari’s native token, which enables short-form video creators to monetize their content. Around 1.1 million GARI holders purchased the token in a record time of just six months since the initial launch. With this growth rate, the number of active wallet users is expected to reach 1 million in the next three months.
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Source: Cryptocurrency - investing.com
