$GARI Token: First-ever Social Crypto token in India 2021

It has been reported that the Indian blockchain-based social platform Chingari, would be holding a public token sale of its native cryptocurrency, $GARI.

About Chingari App

Chingari, a creator-friendly platform for uploading short films, will launch its token sale in November 2021, according to an announcement made Tuesday. The token sale will benefit Republic. This leading investment firm has raised more than $200 million in capital for hundreds of cryptocurrency and startup platforms, among other things. It is stated in the announcement that the $GARI token would be used to incentivize creators on the platform and to link video artists with their followers.

Chingari’s CEO Vision on Crypto-world

CEO and co-founder Sumit Ghosh believes that the token launch would help the platform development, describing it as an “essential step” in its creator-first strategic roadmap. In addition, he believes that the token will further entice creators to the platform as the world transitions to a creator-based economic model.
Chingari, which launched in November 2018, allows users to download and publish short movies as well as shop for products directly from the app, among other things. It currently has 50 million monthly active users and has received 85 million downloads.

What Chingari Aims?

This indicates the beginning of a new phase in Chingari’s plan, which includes the development of a more robust and popular social platform that will compete with Facebook, Twitter, Reddit, and Tiktok. As a result of reaching the current milestone of over 85 million app downloads, according to SimilarWeb Leaderboard, Chingari has surpassed Facebook and has surpassed Instagram to become the third-largest social media network in India.

It will be possible for users and creators to connect with their fans, build NFTs just for their following, sell personalized items, and communicate with their fans in a variety of ways thanks to the use of the token. Furthermore, the site aspires to attract some of the most well-known and brilliant influencers to the platform, boosting the overall content quality for its rapidly expanding audience.

Salman Khan as a Brand Ambassador

Given the recent increase in user acquisition and daily user growth that the social app has experienced, the token sale is expected to draw many investors. According to Republic, a large response is expected from investment firms of all sizes, which will manage the token sale. An official launch party for the token was held two weeks ago. It was attended by notable investors and celebrities, including Bollywood superstar Salman Khan, who serves as the brand ambassador for the App or Company.

“The future of entertainment is signifying by the people who make it. With the addition of the $GARI incentive scheme, the Chingari app’s artists will be even more driven to create fresher and more entertaining videos for the platform. Going forward, it’s going to be an intriguing voyage, to say the least “Khan made the announcement in a statement.

The recent Supreme Court decision in India removing the ban on cryptocurrency and the exponential expansion of the crypto industry in India would allow the vast majority of investors to participate in the token sale. Additionally, according to a statement from Republic, India is establishing a clear regulatory framework that will attract qualified Republic investors to the country.

Adding to this, the paper stated that “$GARI is a significant step forward in the transition to blockchain tokenomics, giving more alternative revenue alternatives to the Chingari platform.”

Summary on $GARI Token

Chingari, a creator-friendly platform for uploading short films, will launch its token sale in November 2021. The token would be used to incentivize creators on the platform and to link video artists with their followers. This signals the beginning of a new phase in Chingari’s plan, which includes the development of a more robust social platform that will compete with Facebook, Twitter, Reddit, and Tiktok. A large response is expected from investment firms of all sizes, according to Republic, which will manage the token sale.

An official launch party was held two weeks ago, attended by notable investors and celebrities, including Bollywood superstar Salman Khan. An official launch party for the token was held two weeks ago, and it was attended by notable investors and celebrities, including Bollywood superstar Salman Khan, who serves as the brand ambassador for Chingari.
“The future of entertainment is being shaped by the people who make it.