Chingari to revolutionize the experience of its Users!
The 100 million-user Indian social network successfully deployed a beta testnet of the $GARI token to 500 dedicated community members. They deployed it in December 2021 in preparation for this week’s main net release.
Indian social networking platform Chingari has announced ambitions to revolutionize the experience of its 100 million-user creator economy. They’ve revolutionized by integrating natively digital assets, $GARI, and accompanying cryptocurrency wallets via the Solana blockchain.
Further, translating into the word ‘Spark’ in the languages of Urdu and Hindi. A branding visibly consistent with its flame icon. The Chingari user interface often draws parallels to popular Western entertainment services TikTok, Instagram Reels and YouTube Shorts. For its principal focus on short-timed, infinitely accessible video content.
Chingari Introduction
Launched in 2018, the platform has grown exponentially over the past few years. It has amassed over 35 million monthly active users. Therefore, this platform has become the most popular mobile application on the Google Play store in the country.
Since April 2021, Chingari has obtained capital from numerous raises. It includes a $13 million corporate round on Apr 1, a $19 million Series A led by Galaxy Digital and Republic Crypto on Oct 8, and a $40 million initial coin offering on Nov.4, concluded by a $13.37 million Series A continuation on Jan 17 this year.
Cointelegraph reached out to a spokesperson from Chingari for an exclusive insight into the platform’s expectations for the ways in which the $GARI token will enhance the existing experience for both creators and fans alike.
The team member noted that GARI, a Solana Program Library (SPL) asset, will be utilized to “connect and transact with their counterparties, place governance votes, and catalyze platform engagement and user base growth”, before outlining:
“The goal is to empower both creators and viewers on the Chingari App with technological tools to interact directly with each other and allow all users on the Chingari App to participate in the long-term direction of the social economy impacting the GARI Token.”
In addition, they revealed future plans to launch an NFT marketplace. In this marketplace “creators will be able to mint their videos, sell it as NFT and earn GARI.”
Alongside this, the Indian government has adopted a firm stance to denounce the acceptance of cryptocurrencies. They’ve announced to introduce Bitcoin and Ethereum as instruments of legal tender, but rather to pursue the viability of a government-backed central-bank digital currency (CBDC), the digital rupee.
