28 January,2022 05:22 PM IST | Mumbai | BrandMedia
Chingari NFT
The Web3 based solutions have been gaining popularity and GARI from Chingari is a well-timed token that has started to make ripples in the market. Before getting on what is GARI, let's first know what is Web3.
The term Web3 was coined by Gavin Wood in 2014. At that time, it was referred to as Web 3.0. Web3 refers to a decentralized online ecosystem based on the blockchain. What this means is that the platforms and apps built on Web3 won't be owned by a central gatekeeper or any company. On the contrary, it will be the users, who will earn their ownership stake by helping to develop and maintain the services, which will be a part of Web3.
What is a GARI token?
GARI is India's first social crypto token. The idea behind the launch of GARI is to monetize creators' talent with an ethical amount of money and empower them via a social platform. The blockchain platform would allow users to obtain tokens for creating and viewing content. The high-performance Solana blockchain powers GARI tokens, and India's biggest superstar Salman Khan is its brand ambassador.
Chingari is known to keep its influencers first. With $GARI too they are resorting to the same approach. They have developed a range of functions that enables users to earn these NFT coins. On the app, there are now, watch-2-earn, engage-2-earn and play-2-earn features through which users can earn these token. In addition to this, GARI acts both as an in-app currency, which is expected to be launched soon as well as a governance token.
When was the GARI token launched?
GARI Token was launched in a star-studded event in Mumbai on Saturday, October 16, 2021. Salman Khan who is the brand ambassador for this token had unveiled the GARI token. Apart from Salman, celebrities such as Nucleya, Maniesh Paul were also a part of this event.
Where can you buy the GARI token?
The GARI token has been recently listed on 14 crypto exchanges that include HUObi Global, FTX, KuCoin, Gate.io, MEXC Global, and OKEx. On the day of its listing, India's indigenous crypto-token gained more than Rs. 750 Crores. It also recorded a record-breaking 24-hour trading volume of almost $100 million.
When will the integration between Chingari and $GARI happen?
The million dollar question that most have been wondering is about the integration. It is being said that $GARI will be integrated on Chingari App on Feb 5, 2022. What this means is that Chingari users can start making videos and earning money through $GARI tokens 6th Feb onwards.
How is Chingari using $GARI to build a creator's economy?
Chingari is now focussed on enabling users to monetize their content with the use of crypto tokens and non-fungible tokens (NFTs). If you are using the app and creating short, engaging video on the platform, then you can earn Chingari Coins (and soon GARI tokens) by participating in challenges on the app.
There are also community-building objectives attached. As per reports, these tokens will give content creators the opportunity to publish short-form videos and earn $GARI tokens as a reward, while forming close bonds with the social platform's community.
Also as already mentioned this $GARI will also act as governance token and help the creators get more control on what features get added and which get canned.
What is the price of the $GARI token?
On CoinMarketCap (which is the world's most-referenced price-tracking website for cryptoassets) GARI Network token was trading for $.34 on January 28, 2022.
What was the GARI token Airdrop?
Soon after the launch, GARI has announced a major airdrop giveaway. As a part of this airdrop, around 500,000 participants were given 100 GARI tokens each, which resulted in a total of 50 million tokens being given. The airdrop was live from October 23 to November 30, 2021.
