Powered by the $GARI token, which was unveiled last year by Chingari’s brand ambassador and Bollywood superstar Salman Khan amid much hype and fanfare, this blockchain-powered short video content sharing platform is now the go-to space for content creators and users. The $GARI token made its debut across some of the biggest centralized and decentralized exchanges earlier this year, etching its name in history as the first token to gain simultaneous listing across six major exchanges. As of now, the $GARI token is available for trading on FTX, Huobi Global, OKEx, MEXC Global, KuCoin, and Gate.io.
The one-of-a-kind platform has received significant backing from investors as well. Since 2021, the Chingari team has completed several successful fundraising rounds and a highly subscribed IDO (initial dex offering). Led by Galaxy Digital and Republic Crypto, two of the biggest institutional investors, Chingari first raised $13 million from a private seed round, another $19 million in Series A funding, and $40 million from its recent coin offering.
Changing The Dynamics For Content Creators And Users
In January 2022, the Chingari team rolled out the in-app wallet, connecting its massive user base to the Solana blockchain. With the wallet now live, users will be able to experience the features offered by the $GARI token. Using $GARI, content creators can set up their own ecommerce space and sell physical merchandise, build NFT creations, and much more.
Regular users, too, can use the $GARI token to fund their favorite creators and also earn $GARI by participating in the giveaways and competitions. In addition to this, all $GARI holders will also be able to participate in deciding the future of the Chingari platform – something that no social media app offers!
As an alternative to web 2.0, Chingari promises to remove many inefficiencies while keeping and democratizing its benefits. With the Solana blockchain’s immutability, speed, and low costs, it removes centralized intermediaries, enabling direct interaction between content creators and users, while offering access to built-in governance, monetization opportunities, and several other novel features.
To further ensure a lag-free user experience, Chingari connects to the Solana chain using QuickNode. By design, QuickNode is a blockchain infrastructure-as-a-service provider for Solana and several other blockchain networks. Using QuickNode’s API, Chingari is able to connect to the Solana chain eight times faster, thus leaving no room for latency.
Realizing the increased demand for regional content in India, Chingari aims to expand its local content offering to more than twenty local languages. The development team has also expressed interest in expanding Chingari to cater to the global audience, starting with South Asia and Middle East regions.