Chingari Launches $Gari Crypto Token, NFT Marketplace in India With Actor Salman Khan as Brand Ambassador

Chingari says $Gari crypto token has been developed with the Solana blockchain network.

Chingari Launches $Gari Crypto Token, NFT Marketplace in India With Actor Salman Khan as Brand Ambassador

Chingari's $Gari is advertised as a social token instead of a financial token

Highlights
  • $Gari will help content creator monitise their work
  • Creators will be able to create their ecosystem of merchandise, content
  • Chingari was launched in 2018 to rival Instagram Reels, TikTok, Moj
Advertisement

$Gari, an indigenous cryptocurrency token, was launched in India on Saturday. The crypto token, launched by Chingari — a made-in-India short video app — is also launching its own NFT marketplace. $Gari will have Bollywood actor Salman Khan as its brand ambassador, who was also present at its launch event in Mumbai. The crypto token has been developed in collaboration with the Solana blockchain. $Gari is being advertised as a social token instead of a financial token, where creators will be able to accumulate coins based on their content.

The new crypto token was launched by Chingari, the indegenious short video app launched to rival the likes of TikTok. $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.

Chingari CEO and Co-Founder Sumit Ghosh said that the platform will allow users to obtain crypto tokens for creating or watching content. "The idea is to monetize creators' talent and empower them via a social platform," he said.

$Gari's brand ambassador Salman Khan said in a prepared statement: "The Creators are shaping the future of entertainment. With the incorporation of $GARI reward programme, the creators will further get motivated to create newer and more engaging videos on the Chingari app. It's going to be an interesting journey hereon".

Chingari announced that it recently completed a round of funding and gathered over $19 million (roughly Rs. 142.5 crores) from more than 30 venture funds and individual investors. As per the company, this round of funding will help them further develop $Gari along with the Solana blockchain.

Chingari says it will also use the funds to help content creators on its platform monetise their content.

The short video app from India was founded in November 2018 in Bengaluru. The app rivals the likes of Instagram's Reels, MX Takatak, Josh, and Moj.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: $Gari, Chingari, Salman Khan
Apple Worker Says She Was Fired for Leading Movement Against Workplace Harassment
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »