Short video app Chingari has boldly stepped into the crypto world with the launch of India's first ever crypto token dubbed '$GARI'. The crypto token was launched by Bollywood superstar Salman Khan at an event in Mumbai that was held at the iconic Taj Land's End hotel. The company revealed that Salman Khan was the new brand ambassador for the GARI NFT marketplace and token reward program.
Salman Khan also took to Twitter to make the announcement. He tweeted, "I am officially launching Chingari’s in app GARI Tokens reward programme & its NFT Marketplace. You can buy my Video NFTs, exclusively on the GARI NFT Marketplace. Cheers to a new chapter in Content Creation & Monetisation!!! #ChingariKiGari #GariTokens."
Salman was clearly quite gung-ho about the venture starting an era of new content creation as well as its potential for monetisation. At the launch event, Salman said, “Creators are shaping the future of entertainment. With $GARI reward program, they will get motivated further to create newer and more engaging videos on the Chingari app.”
Sumit Ghosh, Co-Founder of Chingari said that with the launch of $GARI, Chingari is poised to become a trailblazer in the social infotainment segment and will lead India's charge in the crypto world.
Chingari itself has tied up with Solana Labs, for its blockchain. COO, Raj Gokal, said collective ownership of social platforms like Chingari can unlock new monetization models for creators.
$GARI aims to empower creators to set up their own e-commerce space that includes physical merchandise and NFT creations.
Chingari had recently got a fund injection of $19 million from venture funds and other investors, which will be utilised to build ‘$GARI’, it was revealed.
Elaborating on his vision, Ghosh added, “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."
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