Chingari, a short video creation app, announced the launch of its revamped mobile application adding its native $GARI token to the app. Announced Monday, February 14, users on Chingari will enjoy the vast number of utilities the $GARI token offers including incentives for creatives, staking possibilities, and other earning opportunities for holders. The revamped app will be released on Google Play Store and Apple App Store following a successful testnet launch at the end of 2021. $GARI doubles up as the main driver of the Chingari decentralized ecosystem.
The $GARI token launched in October 2021 in a packed event in South Asia, headlined by Bollywood actor-cum-Chingari brand ambassador, Salman Khan. The wide reception of the $GARI token introduced it to wider audiences and brought in millions of users on Chingari to try out the cryptocurrency. Since then, the $GARI token has received wide appreciation, especially in India, given the dominance of the parent Chingari video-making app in the country.
The token was launched with an aim to incentivize content creators on the Chingari app and boost the quality of content posted on the app. Apart from incentivizing users, $GARI will also enable Chingari app users to create lower-level economies on the app, ushering in a new Web 3 metaverse in the video creation industry. This will allow content creators to interact with their fans, sell merchandise, and mint unique short videos as NFTs. Notwithstanding, the economies built will increase user participation in the app, awarding rewards to the best content creators and incentivizing user attention.
Unsurprisingly, the rollout for the $GARI token to the public witnessed similar reception. Firstly, the token became the first-ever cryptocurrency to witness a simultaneous listing on twelve prominent centralized exchanges and DEXs. At the end of January, $GARI gained listing on FTX, Kucoin, Huobi, Gate.io, OKEx, and MEXC Global among others. Secondly, the $GARI token also set a high of over $100 million in traded volumes less than a day following the simultaneous listings.
According to CEO and Co-founder of Chingari, Sumit Ghosh, the latest in-app integration of the $GARI token will “be a game-changer” as millions of users currently on the Chingari app will have an opportunity to use and earn the token.
“The existing and new users will be able to Tip the other creators, boost their profile, gain governance rights, and experience a lot more features on the app,” Ghosh spoke about his excitement to launch the in-app $GARI token. “ With this, we also move in the direction of being a project with the highest on-chain users.”
With over 35 million+ users on the Chingari app, the $GARI token aims to become the largest video-sharing token in the crypto universe. Adding to the ready market, the $GARI token launched as an SPL token on the Solana blockchain, offering extended features such as low gas fees and fast on-chain transactions, ensuring high throughput and low latency.
As alluded to, the token’s testnet launch saw over 500 community members participating in testing the app by activating wallets and sending each other $GARI tokens.
In conclusion, the ‘Indian Tiktok’ will revolutionize the short video creation ecosystem with its revamped app, bringing in millions of users to the platform. As the main Chingari ecosystem token, $GARI will allow users to ‘tip’ their favorite content producers on the Chingari app and ‘boost’ their profile and content. Users can also deposit and withdraw $GARI from their in-app wallet, and trade the token on some of the world’s largest cryptocurrency exchanges.