Key takeaways:
- KuCoin crypto exchange and India’s TikTok rival Chigari have launched Star Contest, to reward top talent on Chingari and introduce the platform to a wider audience
- INR 20 million in GARI tokens will be distributed to contest participants, with INR 10 million going to the winner
- Chingari boasts a 110 million user base with more than 32 million active users
Chingari and Kucoin are rewarding top content creators with huge crypto prizes
Chingari, a short video-sharing Web3-powered social media platform, and KuCoin crypto exchange have joined forces to launch the exclusive Chingari Star Contest that will see top participants win a share of the massive, 20 million Indian rupees worth GARI prize pool.
The contest, launched on February 15, is slated to last for a full month. KuCoin and Chingari are aiming to shed light on some of the lesser-known content creators, introduce the Chingari to a wider audience, and boost the already high rate of activity on the next-gen social media platform.
Those who wish to participate in the competition must register their account on the Chingari app, on either Android or iOS operating systems, create and upload five videos onto the platform, and apply for the contest for their chance to win huge prizes.
The CEO and co-founder of Chingari, Sumit Ghosh, said that the response from the community has been overwhelmingly positive:
“Looking at the overwhelming response that we have received from the creators so far, it only made sense to commence the contest from 15th Feb,” Ghosh added. “The extra time can be utilized by new users to build their profile on the Chingari app- and get a fair chance to win the contest against the creators that are already popular on the app.”
The Chingari team has reached several significant milestones in the past couple of months. At the tail of 2021, Chignari overtook Facebook, Instagram, and other social media giants to claim the top spot in India’s Google Play. In January, Chingari’s native GARI token got listed on major international exchanges and topped $100M in trading volume in the first 24 hours. Earlier this week, Chingari released the much-anticipated in-app crypto wallet, with native integration of GARI.
Contest winners will be unveiled during the grand victory celebration in March, GARI jumps 20% on the news
KuCoin has been one of the earliest investors in Chingari and did take part in the latest financing round, which saw Chingari raise $35 million in January. The CEO of KuCoin, Johnny Lyu, said that the collaboration between two companies will help accelerate the mass adoption of “blockchain technology and cryptos.” He added:
“As the accelerator and participant of the crypto industry, KuCoin is excited to join forces with Chingari to launch this contest, which will help more users become aware of, understand and get into the crypto world.”
The winners of the Star Contest will be unveiled in March during a special celebration event to be held in Mumbai. The winners will be selected by the Chingari community – each user can use up to five votes each day on their favorite content.
The top prize of INR 10 million worth of GARI tokens will be paid out to the winner of the competition, while the remainder of the prize pool will be distributed among the rest. Actively voting users and those who consume content on the platform will also be eligible for rewards in addition to regular GARI token earning opportunities.
The price of GARI jumped more than 20% on the news – the social token is trading at its multi-week high of $0.6441 at the time of this writing.
