The Chingari video-sharing mobile app social icons were made available to international merchants on Tuesday
India-based short video app company Chingari launched the original token GARI on the international stage earlier this week. According to an announcement from Chingari, the coin quickly caught the attention of millions of people on its first day, with trading volumes exceeding $100 million in a matter of hours.
Chingari launched GARI in October of last year as part of an effort to integrate elements of cryptocurrency into the world of digital content creation. Famous actor, producer and TV star Salman Khan was the brand ambassador at the launch. In December, Chingari announced plans to launch a DEX show early at Sol Razr.
Robbed the market with a storm
This week, the tokens arrived simultaneously on more than 10 (six of them) crypto trading platforms, including KuCoin, FTX, Huobi Global, Gate.io, and OKEx. Other central exchanges are Bitbns, BTXEC, CoinW, BitMart, Hotbit, LATOKEN, and Zebpay.
In particular, OKEx participated in Chingari’s Extended Series A funding round, which raised $15 million as a strategic investor. JPIN Venture Catalyst, Hill Harbor, and telecom company Onmobile have all been involved in capital-led Republican funding.
Founded in 2018, Chingari recently became a popular video app after India banned the video-focused social network TikTok, which was founded in China. The ban, along with Tingari’s incentive-oriented and open model, helped push the app as an ideal alternative.
Dubbed “Indian Tik Tok”, last year it emerged as “India’s Best App on Google Play Store”. The video app has been downloaded more than 110 million times and has an active user base of 35 million users. Last April, Chingari revealed that it closed $13 million ahead of the first round tour and raised $28 million.
GARI benefits creators and other Chingari users
GARI has a limit of 1,000,000,000 tokens, of which 45,800,000 are self-reported circulating supplies, according to Coinmarketcap. Chingari will integrate the tokens into the app in the form of monetization so that users can seamlessly inform the creators.
GARI brings 30 million monthly active users to the Chingari short video app on the chain. For the first time in the history of the blockchain, the app will have millions of users connected across the chain. “ Sumit Ghosh, CEO and co-founder of the company, Queen Telegraph..
Content creators on the platform will also be provided with GARI tokens as an incentive. Notably, GARI is India’s first social crypto token available for trading on global platforms.