Chingari Unveils India’s First Social Crypto Token $GARI at Star-Studded Event

Chingari Unveils India’s First Social Crypto Token $GARI at Star-Studded Event

• Salman Khan unveils Chigari’s new crypto token — $GARI.
• The platform is set to elevate content creation via blockchain power.
• Chingari is home to over fifty million monthly active users across 20 languages.

Film star Salman Khan, brand ambassador of the tech start-up Chingari, helped unveil the platform’s new crypto token $GARI at Mumbai’s Taj Lands End. Specifically, the evening marked a milestone for India’s blockchain economy, as the token is the first for an India-based social network.

In detail, Khan tweets about the event stating that he is officially launching the platform’s in-app NFT Marketplace. In fact, users can now exclusively buy his video NFTs, on the GARI NFT Marketplace. Additionally, the GARI Tokens reward program is also ready. He concludes by cheering for this new chapter for monetizing content creation.

I am officially launching Chingari’s in app GARI Tokens reward programme & 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

— Salman Khan (@BeingSalmanKhan) October 16, 2021

Also present for the unveiling was Sumit Ghosh — Chief Executive Officer and Co-Founder of Chingari. He adds to Khan’s announcement by stating:

Chingari is the go-to destination for the young millennials, including some of the country’s finest creators. 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.

Hence, by introducing $GARI, Ghosh remarks on how the platform is bestowing the power to make decisions back into the hands of the creators. Besides, this enables content monetization to become more mainstream in the country. Chingari’s blockchain network allows creators and users to gain tokens simply by watching or creating content.

Ghosh draws attention to the platform’s core idea, which is to monetize the creators’ and users’ talent with the added benefit of an ethical amount of money and so, empower them through a social network. Chingari will make this a possibility with the presence of its token — $GARI.

Finally, Ghosh is certain that $GARI will be a trailblazing invention for the Indian digital and creator economy. Despite there being a large number of blockchain start-ups, Chingari has gained much popularity by making headlines. This platform lets users download short-form content from a variety of talented creators.

To highlight, the platform’s popularity stems from the features for creators, which allows them to create a merchandise store, gain subscribers, work directly with advertisers, and more. With the unveiling of the $GARI token, the site will move toward crypto-based offerings such as NFT stores, access to influencers, and participation in the platform’s governing body — the DAO.

Meanwhile, the creators on the platform include some of India’s best. Thus, the platform reached over 85 million downloads in a year. Right now, the platform has 50 million monthly active users across 20 different languages.

Chingari recently completed a round of funding, raising over $19 million led by investors such as Republic Crypto, Galaxy Digital, Almeda Research, Solana Capital, and over 30 funds and investors. Chingari plans to use the capital to test the blockchain portion of their platform, develop and test their Chingari Integration beta, and open access to the $GARI token through a public sale.

As the brand ambassador, Khan told the audience, “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.”

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