The cryptocurrency market is booming. With new projects springing up every day, it seems like the world is turning into one giant crypto market. Chingari's $Gari token is the new cryptocurrency with a unique concept of cryptocurrency. If you haven’t heard of Chingari Cryptocurrency, it’s time to make yourself familiar with this new cryptocurrency. We’ll take a look at what makes Chingari so special, and why you should care about the Chingari's $Gari token.
What is Chingari Cryptocurrency?
You might not be familiar with the token $Gari. But you will be soon. It’s a new indigenous cryptocurrency token that was launched in India on Saturday. This new Chingari Cryptocurrency was launched by Chingari, a made-in-India short. Soon, Chingari will launch its own NFT marketplace for its crypto-token. It is being marketed as a social token instead of a financial one, in which creators can accumulate coins based on their content. The crypto token has been developed in collaboration with the Solana blockchain.
Why Does It Matter?
In brief, the goal of Chingari Cryptocurrency is to help content creators on the Chingari app, 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. The platform will allow users to obtain crypto tokens for creating and watching videos on the platform. Chingari CEO and Co-Founder Sumit Ghosh said "The idea is to monetize creators' talent and empower them via a social platform."
$Gari's brand ambassador Salman Khan said "The Creators are shaping the future of entertainment. With the incorporation of the $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." The company announced recently that it has raised more than $19 million from more than 30 venture funds and individual investors. This round of funding will aid in the further development of $Gari along with the Solana blockchain. It will also use the funds to help content creators on its platform monetise their content.
In conclusion, Chingari Cryptocurrency aims to become a platform for creators to build a brand and market themselves by helping to grow their fanbase and rewarding them.