• “Chingari,” an infotainment platform, is preparing for the first-ever public sale of its $GARI token

  • Chingari, a short-video sharing platform aimed at empowering creators, has scheduled a public sale of its native token $GARI in November. This highly anticipated launch comes on the heels of a successful year for Chingari, which saw the platform reach several significant milestones in quick succession.

    During the first week of October, the platform unveiled the $GARI token launch at an official launch party hosted by Bollywood superstar and Chingari brand ambassador Salman Khan. Republic, a large global investment firm, is in charge of the upcoming $GARI public sale. As the $GARI sale grows in popularity and mainstream media attention, the Republic team anticipates widespread participation from institutional and retail investors alike.

    The Republic team claims that

    “We are able to make this emerging asset class more accessible to qualified Republic investors due to the maturation of digital currencies and regulatory guidance that provides a clear framework for token offerings.” $GARI represents a significant advancement in the transition to blockchain tokenomics, bringing more alternative monetization opportunities to the Chingari platform.”

    Graham Friedman, Republic’s Director of Token Offerings, observes,

    “Republic is thrilled to support such a dominant Web2 application on their path to Web3 and a future in which all ecosystem participants can be rewarded for their efforts.” We firmly believe that the GARI token DAO will establish a new standard for how traditional companies can reward their users and create an economy that is both active and meaningful to their users.”

    Giving Content Creators Full Control While Empowering Them

    Chingari, the “Indian TikTok,” was launched in 2018 and has grown in popularity over the years. Following a redesign in 2020 to better align its brand values with cryptocurrency and become more creator-centric, the platform has surpassed 85 million downloads. According to the most recent leaderboard ranking website SimilarWeb, Chingari is currently ranked third in India for social media apps.

    Unlike other existing Web2.0 social content sharing platforms, Chingari, through its $GARI token, aims to give creators more control over their content while also providing several alternate revenue generation opportunities through the use of Web 3.0 tools. Content creators can use the $GARI token to host NFT sales, custom merchandise, and a variety of other initiatives to better connect with their followers while earning a consistent income. Chingari has attracted some of India’s most talented content creators and social media influencers as a result of these features, resulting in more quality content for consumers.

    Sumit Ghosh, CEO and Co-Founder of Chingari, believes that the upcoming $GARI sale will be a watershed moment in the company’s “creator-first” strategic roadmap. Finally, he says,

    “While the creator economy is thriving and creators are becoming a driving force in this revolution, we believe that creators should have a say in how the platform evolves.” With the introduction of $GARI, we are returning decision-making power to users and allowing content monetisation to become more mainstream in India.”

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