India recently welcomed the GARI cryptocurrency, launched by indigenous social media firm Chingari. In this Gari token review, we dig deeper into $GARI and answer some of the most frequently asked questions about the project.
We are going further than just monetization — we believe that creators should be in charge of how the platform their creations live in is developing. This is why we introduce GARI both as a future in-app currency and a governance token — in other words, we are bringing the decision-making power back to the users.
Statement on the official GARI token website.
What is Gari Token?
Gari Token is a Solana-based cryptocurrency launched by the Indian social media platform, Chingari. According to the project’s whitepaper, the token will give content creators the opportunity to publish short-form videos and earn $GARI tokens as a reward, while forming close bonds with the social platform’s community.
As noted on the project’s website, $GARI will also serve as a governance token, allowing creators on the platform to shape its future. For instance, they will be able to make proposals on changes that could be introduced to improve the social media platform.
Sãlman Khan, an Indian celebrity, is the face behind Gari Token. Hiring Khan as an ambassador to the $GARI token has attracted his fans in the millions to the new digital currency. Some enthusiasts are even referring to the token as the Salman Khan crypto, even though as noted, he is only an ambassador for the project.
When Was Chingari’s Gari Token Launched?
Chingari is India’s fastest growing social media platform that enables sharing of short videos. The social platform boasts some 75 million users having exploded in popularity after the country banned its citizens from accessing Tiktok.
The short video platform launched its native token $GARI on Saturday October 16. The launch event was led by Chingari’s ambassador, Sãlman Khan who unveiled the social token. India’s most popular celebrities like Nucleya, Maniesh Paul and a host of others were also present to grace the occasion.
Chingari completed a $19 million funding round during the launch which was supported by more than 30 big name investors including Alameda Research, Kraken Exchange, and Solana Capital. Worth noting is that the project is heavily affiliated with the fast-growing Solana network, having already received a grant from the Solana Foundation.
The platform also has plans to form partnerships with Direct-2-Consumers e-commerce brands to integrate $GARI into already existing shoppable videos on the Chingari platform.
Gari Token Use Cases
There are four groups of entities that play significant roles in interacting with $GARI in the Chingari ecosystem. This includes:
Users can earn $GARI tokens when they create short content videos on the Chingari app and share it on the same platform for fans to view. For every video a creator designs, they are rewarded with $GARI tokens.
Notably, the media platform is real-time shopping enabled. This feature will allow viewers to pay for products, goods and services advertised in videos seen on the platform using $GARI token.
Frequently Asked Questions (FAQs) About Gari Crypto
What is the Official Gari Coin Website?
Gari.network is the project’s official website.
What is Gari crypto price?
There is no quoted price for $GARI token. The reason is not far-fetched. The token is still in beta-testing and not yet available on the Solana mainnet, hence you cannot find it on any exchange. However, like other cryptocurrencies, hopefully the price will appreciate with increased adoption.
Where Can I Buy Gari Crypto?
$GARI token has not been listed on any crypto exchange at the moment. According to the project’s website, the only option available is for users to apply to be whitelisted for an upcoming sale. This means that users must be careful and avoid fraudulent websites that claim to offer early access to the token. Using such websites will likely result in a loss of funds.
When Is the Public Sale of GARI Token?
The public sale for GARI token will take place on November 2, with only whitelisted participants set to get access. The sale will take place via an investing platform, Republic.co’s crypto token sales page.
Is there a GARI Token Airdrop?
Yes. According to the project, they are giving away 100 GARI tokens each to 500,000 participants. Details on how to participate were revealed in a Twitter post and involved completing a number of instructions.
Time will tell whether Chingari’s decision to launch a social crypto token will live up to the initial hype. In the meantime, both investors and users are optimistic that the so-called “Salman Khan crypto” will be a success.