Indian Short-Video App Chingari Launches NFT Marketplace, GARI Social Tokens

Following theban of the uber-popular short-video app TikTokin India, we saw various similar apps andservicesshow up in the digital market. One of the most popular ones was Chingari thatgarnered over 2.5 million downloads on Android and iOSafter its release. Now, citing thepopularity of NFTs(non-fungible tokens) and cryptocurrencies in the market, Chingari has announced an NFT marketplace and its first-ever crypto token called “$GARI” in India.

The Bengaluru-based company made the announcement in a recent event, where Bollywood actors Salman Khan and Vaani Kapoor were present alongside the company executives. Following the launch, Salman Khan took to Twitter to share the news about Chingari’s in-app GARI Token reward program and NFT Marketplace. You can check out the tweet right below.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 Khan (@BeingSalmanKhan)October 16, 2021

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 Khan (@BeingSalmanKhan)October 16, 2021

Chingari recently completed a successful funding round of over $19 million from over 30 venture funds and individual investors. With these funds, the company aims to develop features focused on creator monetization and improve its GARI Token Marketplace.

Moreover, with a monthly active user-base of 50 million users, Chingari is looking to“transform the creator ecosystem of the Indian sub-continent by enabling creators to set up their e-commerce space that includes physical merchandise, NFT creations, and the ability for the fan community to fund their favourite artists,”as per Sumit Ghosh, the CEO and co-founder of the platform.

Furthermore, with Chingari’s NFT Marketplace, the platform will soon compete withInstagram’s Collectibles featurethat was spotted by Alessandro Paluzzi earlier this year. So, it will be interesting to see which NFT marketplace gains more popularity amongst users over the coming days.

Dwaipayan Sengupta

A geek at heart, you’ll find me fidgeting with an iOS device or sitting in front of the laptop, scouring the internet to find interesting technological innovations. In my free time, you’d find me playing Valorant or listening to Pink Floyd.

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