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Salman Khan Unveils India’s First Social Crypto by Chingari – $GARI

Cryptocurrency is always the latest trend-be in the investment market or the twitter space. Among the current blown upmarket of crypto, India has its first social crypto token unveiled at Taj Lands’ End, Mumbai. Micro-content, short video application platform Chingari unveiled its’ first-ever ‘$GARI’ with Bollywood megastar Salman Khan at the event who officially unveiled the crypto token along with announcing his collaboration with the app as a brand ambassador for its NFT marketplace and token reward program through a tweet.

“The Creators are shaping the future of entertainment. With the incorporation of GARI rewards programme, the creators will further get motivated to create newer and more engaging videos on the Chingari app. It’s going to be an interesting journey hereon.”, he states.

In the foray of a growing number of platforms providing short video content following the ban on TikTok, Chingari currently offers customized videos, an extensive song library, hyper-realistic AR filters, and content in over 20 languages and has around 50 million monthly active users and almost 85 million downloads to date. Founded in November 2018 by Sumit Ghosh, Deepak Salvi, Aditya Kothari and Biswatma Nayak, the app lets users download and upload short videos, shop for the merchandise within the app and many more.

Recently the Indian platform landed funding of over $19 million from more than 30 venture funds and individual investors.  Some of the biggest firms that participated in the funding round included Republic Crypto, Galaxy Digital, Alameda Research, Solana Capital, Valor Equity Partners, Kraken, Blackpine, NGC, Coinfund, LD Capital, Borderless Capital, AU21, Cultur3 Capital, Long Term Ventures, Afton Capital, and CSP DAO, among others. The funding will help the startup to build ‘$GARI’ with Solana, a fast-growing ecosystem in crypto technology. 

Using the funds, the company will also test blockchain live, Chingari Integration beta, and the upcoming $GARI token sale.

Sumit Ghosh, Chief Executive Officer and Co-Founder of Chingari stated that with the launch of $GARI, Chingari is poised to become the leading face of social infotainment platforms and will forefront the Indian crypto market.

“Chingari is the go-to destination for the young millennials, including some of the country’s finest creators. While the creator economy is burgeoning and creators are becoming a pivotal force of this revolution, we believe that creators should be in charge of how the platform is taking shape. With the introduction of $GARI, we are vesting the decision-making powers back in the hands of the users and enabling content monetization to become more mainstream in India. Chingari’s blockchain platform will allow users to obtain tokens for creating or watching content. The idea is to monetize creators’ talent with an ethical amount of money and empower them via a social platform. Chingari through its token $GARI wants to make this vision possible. We are certain $GARI will be a ground-breaking invention for the Indian digital and creator economy.” he elaborates.

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