Chingari, an Indian short video sharing platform has launched its first-ever crypto-token, ‘$GARI’ at an event in Mumbai. With this move, $GARI becomes India’s first-ever crypto token.
Chingari app was founded in November 2018 by Sumit Ghosh, Deepak Salvi, and Biswatma Nayak. The TikTok ban provided a shot in the arm for the platform. Presently, the platform has 50 million monthly users and has registered 78 million downloads. The company has partnered with Solona Blockchain to build the crypto token. “We introduce GARI as a social token for the community of Chingari creators that will give them governance authority over the future platform developments through the DAO and create a circular economy," the company said in a press note.
$GARI aims to give more powers to content creatorsSumit Ghosh, Chingari co-founder and CEO said that $GARI would enable content monetization to become more mainstream in India and the blockchain platform would allow users to obtain tokens for creating and viewing content.
“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 $GARI, we are vesting the decision-making powers back in the hands of the users and enabling content monetization to become more mainstream in India. Chingari’s blockchain platform will allow users to obtain tokens for creating or watching content. The idea is to monetize creators’ talent with an ethical amount of money and empower them via a social platform,” elaborates Sumit Ghosh in a statement.
He further said, “$GARI will be a groundbreaking invention for the Indian digital and creator economy.” The platform will also allow viewers to use $GARI tokens to carry out eCommerce transactions on the platform.
Salman Khan signed as the brand ambassador of Chingari’s crypto token and NFT marketplaceSalman Khan has been appointed as the brand ambassador of Chingari’s $GARI Tokens reward programme and its NFT Marketplace. “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,” the actor tweeted.
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, 2021Salman Khan is not the first Bollywood actor to enter the crypto space. Earlier this month, CoinDCX signed Amitabh Bachchan as brand ambassador.
Disclaimer: This article has been authored by a member of our Digit Squad community.
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