Key takeaways:
- Chingari, a short-video sharing application, is now ranked as the most popular social media app on Google Play in India
- The Chingari social media platform has more than 30 million daily active users who produce a whopping 156 million content views per day on the platform
- The company raised $16 million in the recently concluded GARI token IDO on SolRazr
Chingari, the quickest growing short-video sharing platform in India with more than 32 million daily active users, has achieved a significant milestone of claiming the number one spot on Google Play as the country’s most popular social media platform.
Chingari ranks ahead of social media giants such as Facebook, Instagram, and Snapchat
In just three years since its inception, Chingari has grown to become one of the most widely used video-sharing platforms in the world’s second-most populous country. The rapid rise to prominence is far from being a fluke, but instead a product of a well-crafted and easy-to-use mobile product and well-executed marketing strategy, which allowed the app to fill the void left by TikTok, which was banned in India over national security concerns in June 2020.
Chingari app allows users to effortlessly create and share short videos and use easily accessible built-in visual effect filters to add an extra layer of personalization to their content.
What sets Chingari apart from the vast majority of traditional social media platforms, is the integration of Web 3.0 technology, which creates innovative monetization models for the platform’s content creators and unlocks new ways of interaction between artists and their fans.
To this end, Chingari has launched its own native token, dubbed GARI, which gives content creators the ability to create individual e-commerce spaces where their fans can directly support their favorite artists. Additionally, GARI tokens are designed to be used for tipping purposes and facilitation of the non-fungible tokens (NFTs) functionality on the platform. GARI is built on Solana blockchain technology, which can achieve a maximum throughput of over 60,000 transactions per second while boasting very low transaction costs.
Chingari raised $6 million in the recently concluded Initial DEX Offering (IDO) on the SolRazr decentralized launchpad, after selling 40 million GARI tokens at the price of $0.40 apiece. The GARI token sale marks the largest sale of its kind to date.
With more than 85 million downloads, 32 million active users, and a rapidly growing number of content creators using the social media platform, Chingari is well-positioned to remain at the top of Google Play’s rankings for a long time.
