Short video social media platform Chingari unveiled its crypto token ‘$GARI’ and NF marketplace, the token was unveiled by Salman Khan who will also be the brand ambassador of the NFT marketplace and the $GARI Token reward programme, Salman Khan also invested in Chingari
It now plans to build features to enable creator monetization and build utility of the $GARI token. $GARI is aimed at transforming India’s creator ecosystem by enabling creators to set up their ecommerce venture that includes physical merchandise, NFT creations and the ability for the fan community to fund their artists
Salman Khan said, “The creators are shaping the future of entertainment. With the incorporation of the $GARI reward programme, the creators will further get motivated to create newer and more engaging videos on the Chingari app.”
Sumit Ghosh, CEO and cofounder, Chingari, said, “Chingari’s blockchain platform will allow users to obtain tokens for creating or watching content. The idea is to monetize creators’ talent and empower them via a social platform.”
Social tokens are blockchain-based initial coin offerings that connect the creators and consumers of content without an intermediary in the transaction. Plugged into the existing community-building efforts around the creator — fans buy or transact in the tokens, in exchange for exclusive content, merchandise, etc. — they help in driving actual value creation.