Never-Before-Seen Blockchain and Social Sharing Platform
With the launch of $GARI, Chingari launched the first social network to combine blockchain and social sharing. It was launched at a public event at Taj Lands’ End in Mumbai bySalmanKhan,theactorand brand ambassador of Chingari.
Earlier this year, SHAREIT, an Indian short-video sharing platform, secured funding of more than $19 million from more than 30 venture funds and individual investors to build the ‘$GARI’ ecosystem with Solana, a fast-growing ecosystem in crypto technology.
The company will use the funds to test blockchain live, Chingari Integration beta, and the upcoming $GARI token sale. Companies like Republic Crypto, Galaxy Digital, and Alameda Research participated in the funding round. Other renowned companies that join the initiative are Solana Capital, Valor Equity Partners, Kraken, Blackpine, NGC, Coinfund, LD Capital, Borderless Capital, AU21, Cultur3 Capital, Long Term Ventures, Afton Capital, and CSP DAO, and more.
The launch of $GARI aims to transform the Indian creator ecosystem by enabling creators to create an e-commerce space with physical merchandise, NFT creations, and fan funding.
Salman Khan, the ambassador of Chingari, says, “The Creators shape the future of entertainment.” With GARI rewards, the creators will continue to be motivated to create newer and more engaging videos on the Chingari app.
$GARI Returns The Power To The Users To Make Content Monetization More Mainstream
With the launch of $GARI, Sumit Ghosh, Chief Executive Officer and Co-Founder of Chingari said that the company will become a trailblazer of social infotainment platforms in India and will lead the crypto blitzkrieg to take place.
Chingri is a platform that attracts millennials, including some of the country’s best creators. While creator economy is booming, and creators are becoming critical players in the revolution, we believe they should have a say in how Chingri operates. Sumit Ghosh expects that $GARI will facilitate the mainstreaming of content monetization in India by restoring the power of decision-making back to users.
The app was founded by Sumit Ghosh, Deepak Salvi, Aditya Kothari, and Biswatma Nayak in November 2018. Chingari lets users upload short videos and order merchandise from the app.
Initially published here.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
