Quick take:
- Indian short-video creation and sharing platform Chingari has officially launched its in-app crypto wallet.
- The platform has also integrated the Gari network token $GARI in the wallet, onboarding millions to the Solana ecosystem.
- The $GARI token will allow fans to tip their favourite creators on the Chingari app, boosting the profile and content.
Indian short-video creation and sharing platform Chingari has continued with its adoption of the blockchain technology after completing the integration of the Gari Network $GARI token to its in-app wallet.
Chingari ran a successful testnet program involving 500 community members who bought and sold the $GARI token from each other using the in-app wallet. Chingari’s mission is to revolutionise the short-video creation ecosystem.
The app has been likened to TikTok, YouTube Shorts and Instagram Reels. However, unlike all those three, Chingari has embraced Web3 technology in totality to become the platform of choice for short-video creators in the metaverse.
In addition, it plans to launch an NFT marketplace in the next quarter adding more products and services to the ecosystem. The company has created an infrastructure that enables creators to engage with their fans thereby improving commitment and loyalty.
In return, fans can tip their favourite creators using the $GARI token on the Chingari app, thereby boosting their profile and content.
Speaking on the integration of the $GARI token to the app, CEO and Co-founder of Chingari, Sumit Ghosh called it a gamechanger, when millions of users will be able to make deposits and withdrawals with the wallet, as well as, trade the $GARI token across several leading cryptocurrency exchanges.
“The existing and new users will be able to Tip the other creators, boost their profile, gain governance rights, and experience a lot more features on the app,” he said, adding that this makes Chingari one of the biggest projects in terms of on-chain users.
“We are very excited to launch the in-app wallet of Chingari and give the users revamped app with loaded features.”
The $GARI token launched last October, flagged by top Bollywood actor-cum-brand ambassador, Salman Khan. Last week, it was listed simultaneously on leading crypto exchange platforms, including FTX, Kucoin, Huobi, Gate.io, OKEx, and MEXC Global, with transaction volume rising to over $100 million in less than a day.
Chingari says that its disruptive short-video creation app has been downloaded over 100 million times and currently has 35 million monthly active users. The huge user base could be a good source of liquidity for the $GARI token, who could be onboarded to the Solana ecosystem.
The upcoming NFT marketplace launch will enable users to create sub-economies within the platform, powered by the utility token $GARI. The platform will also allow creators to interact with their fans and sell merchandise and short unique videos as NFTs.
The highly incentivised platform rewards creators for their work while users can also benefit from watching and sharing videos.
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