A Look at Creator Cuts: A Video NFT Marketplace by Chingari

NFTs initially gained renown for art and collectible projects. However, there are many more emerging use cases coming into play. One of these is video NFTs and one platform, Creators Cuts, is enabling users to trade and hold these vNFTs. Let's look at Creators Cuts and how it works.

What is Creator Cuts?

Creator Cuts is a video NFT (vNFT) marketplace built by the social media network Chingari. Creators on the Chinagari apps can mint their videos as Non-Fungible Tokens (NFTs) and sell them on the NFT marketplace. These video NFTs are vNFTs and can be minted, bought, sold, and traded via the platform.

The Chingari community will be able to connect with their favorite artists by purchasing a one-of-a-kind piece of art that was produced by that artist, all while providing support to the creators who made it possible by using Creator Cuts. 

This will allow the community to connect with their favorite artists in a way that was not previously possible. Furthermore, under the new paradigm, the holder will get 10% of the creator's daily income generated on the Chingari app in GARI tokens, and the creator will earn a fee; thus, both sides will benefit from the change. 

If the vNFT is purchased using the app, the person who made the NFT has the opportunity to earn 10% of the total cost of the transaction. These may be obtained using the app's native token, referred to as GARI, and they will be distributed daily in line with the total amount of interaction the users have accumulated.

Creator Cuts provides content producers with a marketplace where they can sell their wares to customers who are not Chingari members. Still, it also provides content producers with an additional channel through which they can interact with their audience and receive financial support.

Overview & Features

The purpose of Creator Cuts is to allow creators to connect with the people who enjoy their work and make money off it while also providing fans with the opportunity to connect with their favorite creators by purchasing an original piece of artwork that the creator created. 

The marketplace has a feature that enables NFT owners to earn a percentage of the earnings from the creator who minted it. The holders will get 10% of the creator's earnings on the Chingari app. These earnings will be received in the GARI token. 

This reward is given in return for the purchase of the NFTs. Therefore, the level of involvement of the video's author with the Chingari app dictated the price assigned to each video. Currently, the marketplace is still in beta, and around one hundred NFTs are available for purchase. 

Users can purchase and sell NFTs if they have GARI tokens in their wallets. In addition to earning GARI from the sale of their vNFTs, producers have the opportunity to earn GARI by engaging in activities inside the app, such as publishing, watching, and sharing videos. Users may carry out these actions in order to earn GARI tokens on the Chingari application. 

The owner of one of these virtual non-fungible tokens (vNFTs) can get ten percent of the revenue generated by the developer. Let's say, for example, there's a creator named Jane Doe on the Chingari app who mints a vNFT via Creator Cuts. John Doe, a fan, decides to buy the vNFT from Jane. Next, Jane generates 2,000 Gari tokens on the Chinagri platform, enabling John to earn 200 Gari tokens from Jane. 

The new approach aims to benefit creators and fans on the platform. Customers are strongly encouraged to continue their vNFTS subscriptions, while content providers are pushed to actively seek out new viewers.

Conclusion

Creator Cuts is a video NFT marketplace where users can mint, trade, buy and sell vNFTs, with owners being able to earn a percentage of the earnings made by the creators behind the NFT.