Chingari launches $ Gari Crypto Token, an NFT marketplace in India with actor Salman Khan as brand ambassador

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$ Gari, a native cryptocurrency token, launched in India on Saturday. The crypto token, launched by Chingari, a short video app made in India, is also launching its own NFT marketplace. $ Gari will have Bollywood actor Salman Khan as brand ambassador, who was also present at his launch event in Mumbai. The crypto token was developed in collaboration with the Solana blockchain. $ Gari is billed 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 compete with TikTok. $ Gari would help content creators on Chingari create their own ecosystem by creating their own “e-commerce space for physical goods, NFT creations, and the ability for the fan community to fund” artists on the platform.

Chingari CEO and co-founder Sumit Ghosh said the platform will allow users to obtain crypto tokens to create or watch content. “The idea is to monetize the talent of creators and empower them through a social platform,” he said.

$ Gari Brand Ambassador Salman Khan said in a prepared statement, “Creators are shaping the future of entertainment. With the incorporation of the $ GARI Reward Program, creators will be more motivated to create more videos. newer and more engaging on the Chingari app. It’s gonna be an interesting trip here “.

Chingari announced that she recently completed a round of fundraising and raised more than $ 19 million (around Rs. 142.5 crore) from more than 30 venture capital funds and individual investors. According to the company, this round of funding will help them develop further $ Gari with the Solana blockchain.

Chingari says he will also use the funds to help creators of content on his platform monetize their content.

Indian Short Video App was founded in November 2018 in Bangalore. 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 legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any loss resulting from any investment based on a perceived recommendation, forecast or any other information contained in the article.

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