{"id":5215,"date":"2022-08-30T01:01:05","date_gmt":"2022-08-30T01:01:05","guid":{"rendered":"https:\/\/cyberscrilla.com\/staging\/4768\/?p=5215"},"modified":"2022-08-30T09:27:43","modified_gmt":"2022-08-30T09:27:43","slug":"chingaris-creator-cuts-nft-marketplace-complete-overview","status":"publish","type":"post","link":"https:\/\/cyberscrilla.com\/staging\/4768\/chingaris-creator-cuts-nft-marketplace-complete-overview\/","title":{"rendered":"Chingari\u2019s Creator Cuts NFT Marketplace (Complete Overview)"},"content":{"rendered":"\n<p><a href=\"https:\/\/cyberscrilla.com\/staging\/4768\/what-is-chingari\/\" data-type=\"URL\" data-id=\"https:\/\/cyberscrilla.com\/staging\/4768\/what-is-chingari\/\" target=\"_blank\" rel=\"noreferrer noopener\">Chingari<\/a> is an innovative short-form video-sharing app. It\u2019s also the first social app in the world to reward crypto to its users for uploading, liking, sharing, and commenting on videos. Now, they\u2019ve taken the platform a step further with the launch of their Creator Cuts Video NFT (vNFT) marketplace.<\/p>\n\n\n\n<p><strong>Chingari\u2019s Creator Cuts is the first decentralized video NFT marketplace. The platform enables Chingari\u2019s best creators to mint their videos as NFTs. These video NFTs are then listed on the marketplace by creators for their audience to collect\u2014hence allowing creators to monetize their content.<\/strong><\/p>\n\n\n\n<p>Being that Creator Cuts is the first-of-its-kind decentralized NFT marketplace, there\u2019s a lot to break down. So let\u2019s get into all the exciting stuff and what it means for both creators and users moving forward.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How Does Creator Cuts Work?<\/h2>\n\n\n\n<p>The Creator Cuts platform currently offers pre-minted vNFTs to Chingari users. Although this feature is still in the works, the platform has already selected 100 unique videos to list for auction as NFTs.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"845\" height=\"563\" src=\"https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/How-does-creator-cuts-work.png\" alt=\"Creator Cut Video NFT\" class=\"wp-image-5221\" srcset=\"https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/How-does-creator-cuts-work.png 845w, https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/How-does-creator-cuts-work-300x200.png 300w, https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/How-does-creator-cuts-work-768x512.png 768w\" sizes=\"auto, (max-width: 845px) 100vw, 845px\" \/><figcaption>Creator Cuts Video NFT Auction<\/figcaption><\/figure>\n\n\n\n<p>If you\u2019re wondering why you\u2019d want to buy an NFT version of your favorite creator\u2019s video, it\u2019s actually quite simple.<\/p>\n\n\n\n<p>Aside from the fact that you are able to support the creator directly by purchasing their NFT, <strong>collectors earn 10 percent of the daily mining rewards that the creator earns.<\/strong> That means as a collector, you are earning GARI passively, which is deposited directly into your crypto wallet.<\/p>\n\n\n\n<p>For example, let\u2019s say that Bob earns 500 GARI tokens on the Chingari app and he mints one of his videos as vNFTs on the Creator Cuts marketplace. Sally buys this vNFT and now as per the conditions, Sally is entitled to get 10 percent of Bob\u2019s daily earnings which would be 50 GARI in this case.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"845\" height=\"563\" src=\"https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Creator-cuts-overview.png\" alt=\"Creator Cuts NFT details\" class=\"wp-image-5220\" srcset=\"https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Creator-cuts-overview.png 845w, https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Creator-cuts-overview-300x200.png 300w, https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Creator-cuts-overview-768x512.png 768w\" sizes=\"auto, (max-width: 845px) 100vw, 845px\" \/><figcaption>Creator Cuts NFT details<\/figcaption><\/figure>\n\n\n\n<p>You can view the amount of GARI earned by a creator by selecting their NFT on auction. From here, you can also see other data regarding the NFT including;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Max total supply<\/li><li>Total current supply<\/li><li>Mint address<\/li><li>Transaction history<\/li><li>Token instructions<\/li><li>Distribution<\/li><li>Metadata<\/li><li>Attributes<\/li><\/ul>\n\n\n\n<p>It\u2019s important to note that every vNFT on the marketplace is listed in Chingari\u2019s <a href=\"https:\/\/cyberscrilla.com\/staging\/4768\/what-is-chingari\/\" data-type=\"URL\" data-id=\"https:\/\/cyberscrilla.com\/staging\/4768\/what-is-chingari\/\" target=\"_blank\" rel=\"noreferrer noopener\">native currency GARI<\/a>, so you\u2019ll have to make sure your wallet is stocked.&nbsp;<\/p>\n\n\n\n<p>With that, all vNFTs are listed on the video marketplace in an English Auction style. This means that Chingari decides the opening bid for each vNFT and collectors bid on them as they ascend in price, so this is currently no \u201cBut Now\u201d price.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Can I Trade My vNFTs?<\/h2>\n\n\n\n<p>In the initial beta phase of the Creators Cuts platform, only vNFTs that are held in a Phantom wallet can be traded on a secondary marketplace. The transfer feature for GARI wallet holders will soon be available in the next phase of the platform.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why Build a Fanbase on Chingari?<\/h2>\n\n\n\n<p>You should consider building a fanbase on Chingari if you\u2019re passionate about creating content, and want to be paid for your efforts. <strong>There are numerous ways that creators currently earn money on Chingari, such as<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Uploading content<\/li><li>Gari mining program<\/li><li>Selling video NFTs<\/li><\/ul>\n\n\n\n<p>If you\u2019re a creator who aims to foster a dedicated fanbase, then you might want to consider building your fanbase on Chingari. The platform offers creators numerous ways to earn money on a daily basis.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Is the GARI Token?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"845\" height=\"563\" src=\"https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Chingari-GARI-token.png\" alt=\"Chingari GARI token\" class=\"wp-image-5218\" srcset=\"https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Chingari-GARI-token.png 845w, https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Chingari-GARI-token-300x200.png 300w, https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Chingari-GARI-token-768x512.png 768w\" sizes=\"auto, (max-width: 845px) 100vw, 845px\" \/><figcaption>Chingari&#8217;s native token GARI<\/figcaption><\/figure>\n\n\n\n<p>GARI is the Chingari app&#8217;s native token. It is based on the Solana blockchain and allows content creators to monetize their work through the blockchain. It also functions as a governance token, letting producers make decisions on future platform advancements.&nbsp;<\/p>\n\n\n\n<p>The token intends to address the existing issue that creators face on Web 2.0 platforms: providing outstanding content but seldom being compensated for it. Creators may now monetize their content thanks to GARI.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Is Chigari\u2019s Mining Program?<\/h2>\n\n\n\n<p>Chingari\u2019s Mining Program is a Create-2-Earn, Watch-2-Earn, and Engage-2-earn program that empowers creators and users to earn GARI.<\/p>\n\n\n\n<p>When Chingari first launched in 2018, its goal was to democratize the creator economy. The mining program achieves this by providing a level playing field for big and humble creators.<\/p>\n\n\n\n<p>That means creators aren\u2019t at the mercy of brand collaborations as their only source of income.<\/p>\n\n\n\n<p><strong>The program will offer Rs. 93 crore (approximately 12 million) to the creators and users annually<\/strong>, Chingari stated that GARI tokens will be distributed to the creators from a daily pool of 50,000 tokens, out of which 5,000 tokens will be set aside for the daily login bonus.&nbsp;<\/p>\n\n\n\n<p>The remaining 45,000 GARI are rewarded to the users for engaging in in-app activities such as watching, liking, and sharing videos.<\/p>\n\n\n\n<p>Earnings can be further increased by using GARI Badges which are NFTs a user can purchase in the Chingari app to multiply their daily earnings up to 10x, depending on your badge level.&nbsp;<\/p>\n\n\n\n<p>There are five Badge levels including Basic, Bronze, Silver, Gold, and Diamond that offer 2x, 3x, 4x, 5x and 10x multipliers respectively.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Is Chingari\u2019s Audio Room?<\/h2>\n\n\n\n<p>Chingari\u2019s Audio Room allows users of the app to have real-time conversions on any topic. The Audi Room is a mini app within the Chingari app that is accessible to all users who\u2019ve created a profile and are logged in. Currently, there&#8217;s a maximum of 10 speakers at once and an unlimited audience size.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"845\" height=\"563\" src=\"https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Chinari-Audio-Room.png\" alt=\"Chingari Audio Room\" class=\"wp-image-5217\" srcset=\"https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Chinari-Audio-Room.png 845w, https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Chinari-Audio-Room-300x200.png 300w, https:\/\/cyberscrilla.com\/staging\/4768\/wp-content\/uploads\/2022\/08\/Chinari-Audio-Room-768x512.png 768w\" sizes=\"auto, (max-width: 845px) 100vw, 845px\" \/><figcaption>How to open your own Audio Room<\/figcaption><\/figure>\n\n\n\n<p>Users also have an option to express their opinions and input via a text message in the room chat.<\/p>\n\n\n\n<p>To enhance the overall expereince and vibe of the room, users can purchase themes, effects, and different dreams using the app\u2019s currency, Diamonds. Users can also gift speakers in the Audio Room virtual gifts to express their support and appreciation.<\/p>\n\n\n\n<p>Hosts can engage the audience by playing music from their device and streaming it live in the rooms. Additionally, you have the ability to choose who can speak and who can be present, as well as ban users indefinitely if necessary.<\/p>\n\n\n\n<p>The goal of the Audio Room is to provide users with an enhanced expereince on Chingari and make new connections.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Final thoughts<\/h2>\n\n\n\n<p>With the addition of Chingari\u2019s first-of-its-kind, video NFT marketplace, this social app continues to lead the way in blockchain innovation and implementation. <\/p>\n\n\n\n<p>If you\u2019re looking for a new platform to build a following and monetize your content, consider trying out <a href=\"https:\/\/chingari.io\/\" target=\"_blank\" rel=\"noreferrer noopener\">Chingari<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the addition of its Creator Cuts video NFT marketplace, Chingari continues to lead the way in blockchain innovation. Here&#8217;s everything you need to know.<\/p>\n","protected":false},"author":1,"featured_media":5219,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[353],"tags":[21,14],"class_list":["post-5215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-web3","tag-marketplace","tag-nft","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/posts\/5215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/comments?post=5215"}],"version-history":[{"count":5,"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/posts\/5215\/revisions"}],"predecessor-version":[{"id":5237,"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/posts\/5215\/revisions\/5237"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/media\/5219"}],"wp:attachment":[{"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/media?parent=5215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/categories?post=5215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cyberscrilla.com\/staging\/4768\/wp-json\/wp\/v2\/tags?post=5215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}