Chingari App’s journey started in 2018 when the entertainment and media industry in the short-video category was just starting to boom. The short-video app Chingari gained maximum popularity in 2020, when the creators’ community in India was growing exponentially day by day.
While the other brands in the sector focused on the quantity of short-videos that were posted on their app, Chingari began focusing on the quality of the videos and the different avenues to support content monetization for the creators. Chingari achieved its biggest success in 2020, when the app was recognized as the best app by the Government on India by winning the Atmanirbhar Bharat Best App award. This recognition was the very 1st and one of the biggest achievements for Chingari and it motivated them to grow further.
Since then, there was no looking back for the brand. In just 2 years, Chingari has made its mark in the short-video sector and through its tech innovations the brand has achieved many more milestones and has become India’s No.1 short- video app.
The brand has been moving forward at a very fast pace and has taken its creator’s community to the next level. Chingari’s mission is to provide a platform where aspiring creators and young influencers can make a name for themselves, while building an audience and developing an online career. The aim is to boost the creators’ economy and for this, it has recently announced a huge contest called Chingari Star presented by KuCoin across India.
Chingari has set to become the most popular short-video app in India that is encouraging creators, making them the center of the universe, and helping them monetize their content by deploying the intelligence of Web 3.0. Chingari is built on Web3, and Web3 DAO runs on decisions of the community. The app makers have the same notion, and believe that the governance of their project should be managed by the community. $GARI holders will be able to stake and earn yield as well as vote on proposals to decide the future direction of the platform.
The $GARI Social Token is interconnected with the Chingari App, giving the users a direct control over their assets, and can use their tokens to connect and transact with their counterparties, place governance votes, and catalyse platform engagement and user base growth. Also, soon Chingari powered by $GARI will have its own NFT Marketplace, where the creators will be able to mint their videos and sell it as NFT and earn $GARI.
The $GARI Social Token is being used by Chingari to allow more direct interactions with creators. Chingari is aiming to link brands directly with creators and is helping them monetize their content through $GARI tokens. As the platform’s use of the $GARI token expands, Chingari gains too.
Sumit Ghosh, Co-founder & CEO, Chingari App said, “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 (launched in Chingari App) and a governance token.”
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 and is now on 20 major crypto platforms. HUObi Global, FTX, KuCoin, Gate.io, MEXC Global, 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 and bring in the Web3 revolution. The $GARI token uses block chain technology powered by Solana to provide content creators with the ability to monetize their work on the Chingari platform. The app now has more than 110M+ users and has grown over double since 2020.
It was in October that Chingari’s brand ambassador and investor, Megastar Salman Khan launched $GARI. The content creators, according to Chingari powered by $GARI, should lead the way in utilizing the block -chain platform.
Chingari recently announced the expansion of its $15 million Series A financing and is likewise on the lookout for Chingari Star through a month-long contest- where the winner will take home $GARI tokens worth INR 1 Crore and the overall reward for the participants of the contest is up to INR 2 Crores worth $GARI tokens.
Disclaimer
The above content is non-editorial, and BCCL hereby disclaims any and all warranties, expressed or implied, relating to the same. BCCL does not guarantee, vouch for or necessarily endorse any of the above content, nor is it responsible for them in any manner whatsoever. The article does not constitute investment advice. $GARI is a virtual digital asset, and is not legal tender. Law relating to virtual digital assets/ crypto technology is evolving. Please do your own due diligence and take all steps necessary to ascertain that any information and content provided is correct, updated and verified.
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