Chingari which was a micro-content, short video app revealed the very first Chingari social crypto token known as “$GARI” during a public event at the Taj lands’ End, Mumbai on Sunday 17 October 2021. This crypto token was released by the Bollywood superstar Salman Khan. In this same event, he also announced his collaboration with this application as being the brand ambassador for its marketplace of NFTs and the programs of the token rewards.
While talking about this new token, Salman tweeted,
“I am officially launching Chingari’s in app GARI Tokens reward program & its NFT Marketplace. You can buy my Video NFTs, exclusively on the GARI NFT Marketplace. Cheers to a new chapter in Content Creation & Monetisation!!! #ChingariKiGari #GariTokens”.
Speaking about this latest Chingari social crypto token, the actor said,
“The creators are shaping the future of entertainment. With the incorporation of the $GARI reward program, the creators will further get motivated to create newer and more engaging videos on the Chingari app. It’s going to be an interesting journey hereon.”
With this incursion, this Chingari app which presently offers personalized videos, a huge library for songs, AR filters that are hyper realistic, and contents in more than 20 languages and consists of more than 50 million monthly users has reportedly turned into the first social network to issue cryptocurrency tokens in India.
The token will be constructed in partnership with the Solana blockchain. The COO of Solana Labs has stated how assembled ownership of social channels like $GARI crypto tokens can fully shift the relationship between the creator and the platform globally and can unlock new models of monetization for the creators, especially in junction with the blockchain of Solana, which provides low fees of transactions and many more things. The Chingari token sale is not live yet, it will soon be available to its users. If you are wondering how to buy Chingari token, it will be available in the Chingari app soon.
The underlying aim herein, as per the founders, is to enable the creators through these social tokens by enabling them to monetize their content by creating an e-commerce area that can potentially have merchandise, NFT creations, and many more.
Sumit Ghosh, who is the Chief Executive Officer and Co-Founder of Chingari asserted that with the launch of this token, the micro-content app is collected to initiate the consolidation of digital currency and the Indian social infotainment arena. He further said that,
“While the creator economy is burgeoning and creators are becoming a pivotal force of this revolution, we believe that creators should be in charge of how the platform is taking shape. With the introduction of $GARI, we are vesting the decision-making powers back in the hands of the users and enabling content monetization to become more mainstream in India. Chingari’s blockchain platform will allow users to obtain tokens for creating or watching content. The idea is to monetize creators’ talent and empower them via a social platform. Chingari through its token $GARI wants to make this vision possible. We are certain $GARI will be a groundbreaking invention for the Indian digital and creator economy.”
It is worthy to add that Chingari social crypto token presently fulfilled a funding round of more than $19 million from over 30 venture funds and individual investors. The funding will allow the startup to create ‘$GARI’ with the blockchain of Solana, a fast evolving ecosystem in digital currency technology.