India’s home-grown short-video app Chingari has set to become the most popular short-video app in India that is encouraging creators, making them the centre of the universe, and helping them monetize their content by deploying the intelligence of Web 3.0. The $GARI token is being used by Chingari to allow more direct interactions with creators. This is when large social media companies are still figuring out how to convert their platforms and ecosystems to a blockchain-based, decentralised business model.
Chingari is aiming to link brands directly with creators, as opposed to the existing social media structure, in which the platform makes money from the advertisers and pays a small amount to the creators. Chingari powered by $GARI helps creators to monetize their content by working with brands and earning money through $GARI tokens. As the platform's use of the $GARI token expands, Chingari gains too.
Giving creators much greater control, has been a vital factor in the platform's rapid development, attracting talent and enhancing content quality as producers have a chance to make a livelihood. In addition, Chingari is also enabling the audience to earn with watch-2-earn, engage-2-earn and play-2-earn features on the Chingari app. GARI acts both as an in-app currency (launching in app on 5th Feb 2022) and a governance token.
In India, the short video app category has been rising at a breakneck pace. Currently, 240 million+ people are addicted to these short video applications. In the following years, this number is likely to climb even further, reaching 575 million by 2025. Chingari, India's most popular short video app, saw a spectacular surge in 2021. The app now has more than 110M+ users and has grown over double since 2020. Starting the new year Chingari is breaking records with India’s first social crypto-token $GARI.
The first-ever social token from Chingari, $GARI, saw a record-breaking 24-hour trading volume of almost $100 million. The desi crypto-token gained INR 750 crores on the day of its launch on 14 major crypto platforms. HUObi Global, FTX, KuCoin, Gate.io, MEXC Global, and OKEx are among these crypto exchanges.
$GARI is the first Indian social crypto-token to be listed on a global cryptocurrency market. Chingari's $GARI aims to excel in the global block chain and crypto market environment with this benchmark. The $GARI token uses block chain technology powered by Solana to provide content creators with the ability to monetise their work on the Chingari platform.
It was in October that Chingari's brand ambassador and investor Salman Khan launched $GARI. The content creators, according to $GARI, should lead the way in utilizing the block -chain platform. Chingari recently announced the expansion of its $15 million Series A financing. In 2022, this significant investment will increase and bring together fresh features in the app, as well as technological and marketing advancements. Chingari is likewise on the lookout for Chingari Star through a month-long contest- where the winner will take home a cash prize of INR 1 Crore and the overall reward for the participants of the contest is up to INR 2 Crores.
Sumit Ghosh, Co-founder & CEO of Chingari App, says, "With such an impressive volume, Chingari's $GARI is moving towards its vision to entrust the content creator community. Cryptocurrency in India has been untapped when it comes to the creators and with $GARI, we would be capturing the potential market. With such a great milestone, we shall be maintaining the leadership position across the short video apps platforms in India.”
$GARI will be integrated on Chingari App on 5th Feb 2022. Chingari users can start making videos and earning money through $GARI tokens 6th Feb onwards.
About Chingari
Chingari is India’s fastest-growing short-video app launched in 2018. Since then, the home-grown app has emerged as the one-stop destination for entertaining, engaging videos across diverse categories such as dancing, singing, transformation, innovative skills, etc. Chingari’s eclectic platform entertains 110M+ users across India, and witnesses’ videos in 13+ languages. Chingari app also supports real-time video commerce, where every video that gets uploaded on Chingari is parsed frame by frame and all detected objects are matched with Amazon's live catalogue. This enables the users to shop through the platform. In addition, Chingari also showcases features like Chingari Multiplex and Chingari TV to further increase the entertainment quotient. The app has been working towards adding value to its content creators by enabling them to create unique content that gets liked, shared & rewarded through GARI Social Tokens that fosters content monetization and rests the power of content creation directly in the hands of the creators. The first Indian social crypto token GARI, has been listed on several top global centralized exchanges including HUObi, FTX, KuCoin, Gate.io, OKEx and MEXC Global. Chingari is bringing web3 revolution to the creator economy with its GARI token. GARI social token is all set to empower creators on the Chingari platform from 6th Feb 2022 to set up their own eCommerce spaces. Welcome to a revolution for the Creator Community.
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