It’s been a while since we last reported on the video sharing app Chingari. In January, Chingari launched its $GARI token on six major exchanges, becoming the first ever blockchain-based company to do so!
The Chingari app, available for iOS and Android, allows users to create, watch and share short clips and videos (similar to Tiktok) and rewards them with their native $GARI token. Since our last coverage, the Chingari team has been hard at work on a new NFT project.
Six months later, Chingari today announces a $12 million annual GARI mining program to empower 40 million average monthly users (MAU), becoming the first social app in the world to offer cryptos to its developers. As part of this Create 2 Earn, Watch 2 Earn and Engage 2 Earn program, creators and users of the Chingari platform can earn GARI tokens for in-app activities such as uploading, liking, sharing and commenting on videos
As part of the program, the GARI tokens will be distributed to the creators from a daily pool of 50,000 tokens, of which 5,000 tokens will be reserved for the daily login bonus. The remaining 45,000 GARI will be rewarded to the users/creators for enjoying in-app activities like watching, liking and sharing videos in the app.
Additionally, earnings can be further boosted by using GARI Badges, which are NFTs that a user/creator can purchase in the Chingari app to increase their daily GARI earnings up to 10- times to multiply. There are 5 badge tiers including Basic, Bronze, Silver, Gold and Diamond which offer 2x, 3x, 4x, 5x and 10x multipliers respectively.
Introducing the GARI mining program, Mr. Sumit Ghosh, co-founder and CEO of Chingari and GARI token said: “We are very pleased to announce the GARI mining program. We promised to democratize the creator economy when we launched Chingari a few years ago, and GARI Mining is at the forefront of that process. This program will ensure a level playing field for great and humble creators. Now creators and users of the app can earn GARI tokens that can be traded on exchanges for money, and creators don’t have to rely on brand collaborations as their only source of income. The program offers creators and users $12 million annually.”
Chingari, powered by GARI, launched in 2018 and is the fastest growing on-chain social app in the world. The self-developed app has become a one-stop shop for entertaining, engaging videos in various categories like dancing, singing, transforming, innovative skills, etc. Chingari’s versatile platform is ranked among the top 20 most downloaded apps worldwide, entertaining more than 130 million users, and witnessing videos in more than 15 languages with over 5 million daily active users.
Gari Token is the largest social token in the world. Chingari’s native token, GARI, allows short video creators to monetize their content on the blockchain using the GARI token. Gari token has received great enthusiasm from the community of nearly 600,000 GARI holders in the record time of just 3 months after launch. With this growth rate, we expect active wallet users to reach 1 million in the next three months. The GARI token has emerged as the top 3 projects on the Solana blockchain in terms of number of holders.
In 2021, Chingari app ranked as the number one social media application on India’s top Google Play Store list, attracting over 30 million monthly users. This rapid success of the app, which outperformed other popular social apps like Youtube and Instagram in India, was further solidified with a public sale of $19.84 million worth of GARI tokens to South Asian investors.