Chingari integrates native token to advance Web3 social networking

cointelegraph.com:

Indian social networking platform Chingari has announced ambitions to revolutionize the experience of its 100 million-user creator economy through the integration of native digital asset, $GARI, and accompanying cryptocurrency wallet via the Solana blockchain.

Translating into the word ‘Spark’ in the languages of Urdu and Hindi — a branding visibly consistent with its flame icon — the Chingari user interface often draws parallels to popular Western entertainment services TikTok, Instagram Reels and YouTube Shorts, for its principal focus on short-timed, infinitely accessible video content.

Launched in 2018, the platform has grown exponentially over the past few years, amassing over 35 million monthly active users to become the most popular mobile application in the country on the Google Play store. As in the case of TikTok, creators are revered for their entertainment across an array of topics such as lip-synching, belly dancing, comedic sketches and fashion tips, among others.

Since April 2021, Chingari has obtained capital from numerous raises, including a $13 million corporate round on Apr 1, a $19 million Series A led by Galaxy Digital and Republic Crypto on Oct 8, and a $40 million initial coin offering on Nov.4, concluded by a $13.37 million Series A continuation on Jan 17 this year.

Cointelegraph reached out to a spokesperson from Chingari for an exclusive insight into the platform’s expectations for the ways in which the $GARI token will enhance the existing experience for both creators and fans alike.

The team member noted that GARI, a Solana Program Library (SPL) asset, will be utilized to “connect and transact with their counterparties, place governance votes, and catalyze platform engagement and user base growth",