Homegrown short-video app Chingari has launched crypto tokens, called $GARI, and its own marketplace for non-fungible tokens (NFT). $Gari is said to help content creators on Chingari create their own ecosystem by creating their own “e-commerce space for physical merchandise, NFT creations, and the ability for the fan community to fund” the artists on the platform.
$Gari’s brand ambassador Salman Khan said: “The creators are shaping the future of entertainment. With the incorporation of the $GARI reward programme, the creators will further get motivated to create newer and more engaging videos on the Chingari app.”
Sumit Ghosh, CEO and cofounder, Chingari, said, “Chingari’s blockchain platform will allow users to obtain tokens for creating or watching content. The idea is to monetize creators’ talent and empower them via a social platform.”
Founded in November 2018, Chingari lets users download and upload short videos and shop merchandise within the app, among other things. In April 2021, Chingari had raised $13 Million led by mobile entertainment company OnMobile with participation from Bollywood actor Salman Khan.
Recently, Chingari raised over $19 million from more than 30 venture funds and individual investors. The funding will help the company build ‘$GARI’ with the Solana ecosystem in crypto technology.