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Chingari raised $19Mn via its "GARI" Token
Chingari is a short video sharing platform that came into the limelight when Tiktok was banned in India. The company proudly claims that its user base has grown from 1,00,000 to 50 Mn in just six months. The company has also launched an OTT based platform called "Chingari Multiplex" last November.
The Token round? The company has raised the funds through its own token called "GARI" which will be launched on 2nd Nov 2021 on the Solana chain. The funding was also mainly done by crypto investors such as Solana Capital, Republic Crypto and Mike Novogratz's investing firm.
"What Axie Infinity did for gaming, we want to do it for Social media" says the founder Sumit Ghosh
Creator Economy: Chaingari plans to enable creators on the platform to monetize their content on the blockchain through these tokens. So this time if your video goes viral on the platform, the GARI token may have something for you. Not only this, the company says users will be able to mint the "GARI" tokens while creating or even while consuming content. This token also acts as a governance token meaning the holders will also be the decision-makers of the company(DAO's).
Steps like these make the "Influencer" jobs go mainstream and we might see a lot more people going full time into it if social media platforms adopt these features. The company is also coming up with an Airdrop and if you don't want to miss or want to learn more about their project and its role is in the ecosystem, do have a look at this