On August 23rd, on- chain social app Spark revealed that it would be releasing a new feature called Creator Cuts.
Creator Cuts is set to become the initial video NFTmarketplace, as the company is committed to empowering and promoting the creator economy. As reported by a press release shared with finebold, in this marketplace, videos NFTs will be based on the flagship videos produced by the most successful Spark creators.
Creator Cuts aim not just to offer creative financial and social engagement opportunities, but also for users to connect with the content creators they enjoy most by buying an original piece of artwork. It is produced and as a result, it makes a financial profit from the buy.
Each NFT video is given a special price
Customers who buy these NFTs can receive 10% of the daily earnings in Gari Tokens based on the amount of engagement they get on their videos on the Spark app.
Each video is assigned a special value based on the time spent by the video creator using the Spark app. Then, anyone (Spark user or not) can purchase these NFTs to add to their series. Mr. Sumit Ghosh, founder and CEO of Spark and GARI Token, said at the Creator Cuts presentation ceremony:
“At Spark, allowing and enabling creators to engage efficiently and internally with their community has been a cornerstone of our success since our inception. We believe in the huge potential of the creator economy and its growth. And are totally committed to democratization across the spectrum. To that end, we are always creating exclusive programs and offerings which are rooted in popular culture, ecosystem development, and part of our business priorities.”
The release of Creator Cuts is one such initiative that empowers the creators as well as the community to not just build more profound relationships, but to literally grow together.
Ultimately, this looks set to serve as another step in growth as the social media startup serves as India’s domestic short video app. Driven by growth, the company is all set to be a permanent disruptor to its Chinese counterpart – TikTok.
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