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Chingari Social Media Application Becomes One of Biggest IDOs on Solrazr Launchpad by Raising $4 Million in 15 Minutes

Mon, 12/20/2021 - 15:30
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Arman Shirinyan
Chingari changes social media landscape with Web3 solution directly in app
Chingari Social Media Application Becomes One of Biggest IDOs on Solrazr Launchpad by Raising $4 Million in 15 Minutes
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Chingari application with Indian roots has successfully closed a funding round on Solrazr and has raised more than $6 million in two funding rounds one of which has lasted only 15 minutes.

Indian TikTok challenger with implemented blockchain

The social media platform allows users from all over the world to make their dreams come true by inspiring beginner content creators. The platform is the first of its kind from India, and it was recognized with the Atmanirbhar Bharat Award.

Chingari Website
Source: Chingari

With the help of the Chingari blockchain platform and underlying utility token GARI, the application provides unique interactions, governance mechanisms, and a whole new creator economy.

Utilizing Web3

The social media platform creates a unique type of relationship between content creators and their subscribers with the help of blockchain technology. Content makers are able to provide exclusive content for their subscribers in exchange for GARI tokens.

In addition to using the platform's native tokens, Chingari also provides a whole marketplace for influencers to sell their services to both companies and individuals. Such solutions as tipping and in-video sales are also available for those who decide to join the Chingari platform.

Chingari's expansion plans

In the foreseeable future, Chingari plans community expansion to incentivize the community development process in the Solana ecosystem. By investing in the community as a long-term asset, projects are able to achieve a greater outcome in the future.

Chingari has already successfully launched its DAO mechanism and finished the technical background of the GARI token, including smart contracts and implemented staking, minting and other important features.

Once the best developers from the community provide their best solutions for the platform, the Chingari Community Treasury will be used to redistribute rewards among those providing the most sufficient and creative solutions for the platform and ecosystem as a whole.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.