India’s TikTok-like App Chingari hits 800,000 $GARI wallet subscribers
- Chingari app hits 800K GARI wallet users
- $GARI token was launched to allow tipping of content creators and rewards for the viewer
- $GARI token has lost 50% of its value in recent months
Barely six months following the integration of the GARI token into the Chingari application, India’s Tiktok has hit a new milestone.
GARI Network announced on July 13, 2022, that it had hit 800,000 wallet users just a few months following the integration. However, as per the team, only five months have elapsed since the GARI wallet was integrated into the app.
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GARI Network powered by Web3
The GARI Network is a social media platform powered by Web3 that is dedicated to expanding the Chingari platform. India’s top brief video application Chingari is a leading social media app in the country following the ban on Chinese apps, including TikTok. The GARI token, it enables users to monetize content on the blockchain.
In February this year, Chingari unveiled an integrated cryptocurrency wallet, allowing users to purchase, transfer and receive tokens within the app. Its token, $GARI, launched a year, was meant to allow users to tip content creators on the platform and receive rewards for viewing content.
With thousands of active daily users, Chingari is currently India’s fastest-growing short-form video app. Like Tik Tok, the application allows users to make and exchange short videos with other people.
The GARI tokens are awarded to users each time they produce a video on Chingari. GARI token is a social token for the Chingari creators’ community, as per the project team. It gives users governance power as they control platform development through a decentralized autonomous organization (DAO).
Chingari is targeting one billion users to join the network
The GARI Network pushed more people to download the Chingari application and register for a GARI wallet. The group has stated that its goal is to have one billion on-chain users join its network.
Like the other digital currencies in the larger cryptocurrency market, GARI has lost around 50% of its worth in recent months. GARI was worth $0.78 per coin at the beginning of the year. However, currently, it’s down more than 2% in the past 24 hours, trading at $0.0971.
The Chingari application and GARI keep growing and hit new milestones, notwithstanding the crypto bear market, including 800k wallet signups.