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GARI Token raised $40mn in a day!

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@reeta0119
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One of the leading Short video app Chingari app launched its first-ever Cryptocurrency based talking and it is based on the Gari network. They raised over 40$ million in a day time and this gives a boost to the project. This is certainly not a small amount and for any project, it can make things great and even it can speed the expansion and overall project development. After the TikTok ban in Indian there were many similar apps were launched and Chinagri is oe of the app which has got quite a big userbase. These days since the user base plays a very important role so this worked in favor of the platform and later they decided to enter crypto and blockchain.

So far chingari is the first even social short video project that has entered crypto and they named their token GARI. Its obvious that now many other projects will think of doing the same but taking the first step is very important and this is what the chingari team did. They got associated with Salman Khan for promotion which also helped them to get more attention.

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Short video app Chingari on Thursday announced that its first-ever crypto token 'GARI' raised $40 million within 24 hours of its live sale on the Republic platform. Chingari lets users download and upload short videos and shop for the merchandise within the app, among other things. The Bengaluru-based rival of Instagram Reels, MX Takatak, Josh, and Moj boasts of 50 million monthly active users and 85 million downloads to date and the co-founders are confident that it will be India's fastest growing 'Social Token App

There are many competitors already but chingari took the lead and this is what helped them to get this much funding in a day. Its very important to understand the need and the trend and if any company or protect can realize the nee at the right time then there is nothing that can stop to grow it. Things have gone way more forward and now people are not just limited to Facebook or youtube. This is also because Facebook does not pay anything to the content creators and even youtube is not fair with their account management and monetization mechanism.

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Chinagri has developed its platform in such a way where creators are rewarded and other components including developers, users and business partners can also earn and the GARI token is a way to connect them all together.

I and glad to see that projects from India are doing good and earlier we have seen MATIC network which also has done great. It seems that there is a lot on the waiting list just because of the government approval and once it happens then things will amazing and we can see much more happening. Recently Paytm news is also great where the company said that they will enter in crypto if govt clears the roadblock of regulation and ts expected that it might happen in 2022.

The future is exciting in crypto and we just need to keep ourselves updated with upcoming projects and developments that can help us learn and earn a lot in the crypto space.

Thank you so much

Stay Safe

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