Chingari, the world’s fastest-growing on-chain social app, unveils a $12 million annual GARI Mining program to empower creators
It’s been over a while since we last covered the video-sharing app Chingari. In January, Chingari launched its $GARI token on six major exchanges, becoming the first-ever blockchain-based firm to do this!
The Chingari app, which is available on 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 busy working on a new NFT project.
Fast forward six months later, Chingari today announces a $12 million annual GARI Mining program to empower 40 million monthly average users (MAU), becoming the first social app in the world to offer cryptos to its creators. s part of this Create-2-Earn, Watch-2-Earn and Engage-2-earn program, creators and users on the Chingari platform can earn GARI tokens for doing 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, out of which 5,000 tokens will be set aside for the daily login bonus. The remaining 45,000 GARI will be rewarded to the users/creators for enjoying in-app activities including watching, liking, and sharing videos on the app.
Moreover, the earnings can be further increased by using GARI Badges which are the NFTs a user/creator can purchase in the Chingari app to multiply their daily GARI earnings up to 10x, depending on the badge level. There are 5 Badge levels including Basic, Bronze, Silver, Gold and Diamond that offer 2x, 3x, 4x, 5x and 10x multipliers respectively.
Speaking at the launch of the GARI Mining Program Mr Sumit Ghosh, Co-founder & CEO, Chingari and GARI token said, “It gives us immense pleasure to announce the GARI Mining program. We promised to democratize the creator economy when we launched Chingari a few years back and the GARI Mining is at the vanguard of that process. This program will ensure a level playing field for big and humble creators. Now, creators and users on the app can earn GARI tokens which can be traded on exchanges for money and creators will not be at the mercy of brand collaborations as their only source of income. The program will offer $ 12 million to the creators and users annually.”
Launched in 2018, Chingari, powered by GARI is the world’s fastest-growing on-chain social app. The home-grown app has emerged as the one-stop destination for entertaining, engaging videos across diverse categories such as dancing, singing, transformation, innovative skills, etc. Amongst the top 20 most downloaded apps globally, Chingari’s eclectic platform entertains 130M+ users across, and witnesses videos in 15+ languages with over 5 million daily active users.
Gari token is the World’s biggest social token. Chingari’s native token, GARI enables short-form video creators to monetize their content on the Blockchain with the GARI token. Gari token has received great enthusiasm from the community with almost 600,000 GARI holders in a record time of just 3 months from launch. With this growth rate, we are expecting the active wallet users to reach 1 million in the next three months. GARI token has become the top 3 Projects on the Solana blockchain in terms of the number of holders.
In 2021, the 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 quick success of the app, which beat other popular social apps such as Youtube and Instagram in India, was further solidified by a $19.84 million public sale of $GARI tokens to South Asian investors.