Creator Cuts: Indian Short Video App Chingari Launches Video NFT Marketplace

Chingari said Creator Cuts will let buyers of these NFTs get 10 percent of the daily income in GARI token.

Chingari has its own native token called GARI.

Source : Chingari

New Delhi: Short-video making app Chingari on Tuesday announced its first-ever video non-fungible token (NFT) marketplace, Creator Cuts, to let creators mint their videos and sell them on the marketplace.

The platform said Creator Cuts will let buyers of these NFTs get 10 percent of the daily income in GARI, the platform's native token, earned by the creator on the engagement they receive on their videos on the Chingari app.

"At Chingari, empowering and enabling creators to engage effectively and intrinsically with their community has been the cornerstone of our success since our inception," Sumit Ghosh, co-founder and CEO, Chingari and GARI token, said in a statement.

"We believe in the immense potential of the Creator Economy and are wholly committed to its growth and democratisation across the spectrum," Ghosh added.

A unique price has been assigned to every video depending on the creator's activity on the Chingari app. These NFTs can be bought by anyone — Chingari user/non-user.

"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," Ghosh said.

"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," he added.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.