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Chingari is an Indian social networking platform that has announced ambitions to revolutionize the experience of its 100 million-user creator economy. Hence, the platform has recently integrated its native cryptocurrency, GARI. Moreover, the platform also integrates an accompanying crypto wallet through the Solana blockchain. Indeed, Chingari’s 100 million users have witnessed the successful deployment of the beta testnet of its GARI tokens. Notably, the brains behind the social networking platform has highlighted that the integration came in preparation for its mainnet release.
Chingari is the Indian version of western TikTok
Chingari was launched in 2018, a branding visibly consistent with its flame icon. The name of the platform translates into the word “Spark”. Notably, the interface of the mobile application often draws parallels to popular Western entertainment services TikTok, instagram Reels, and YouTube Shorts.
With a principle focus on short-timed, infinitely accessible video content, the platform has witnessed exponential growth since establishment. Moreover, it is incredible that the application has amassed more than 35 million monthly active users to become the most popular platform in the nation.
If we look at the case of TikTok, creators are revered for their entertainment across an array of topics such as lip-synching, belly dancing, comedic sketches, and fashion tips, among others. Simultaneously, Chingari also provides similar contents.
Chingari’s team has raised capitals via numerous raises
Since April last year, Chingari has obtained capital through numerous fundings. These include a $13 million corporate round on April 1, a $19 million Series A led by Galaxy Digital and Republic Crypto, and a $40 million ICO in November. Notably, finally the firm concluded its capital raising round this year with a $13.37 million Series A round.
How will the GARI token help the platform?
According to a member from Chingari, it is observed that GARI is a Solana Program Library (SPL) asset. Notably, the token will be utilized to connect and transact with their counterparties, place governance votes, and catalyze platform engagement and user base growth.
Moreover, the spokesperson outlined that the main goal of the project is to empower both creators and viewers on the platform. Indeed, the enhancement will be achieved through technological tools to interact directly with each other and allow all users on the application to participate in the long term direction of the social economy impacting tokens.
