Edited By: Mohammad Haris
Last Updated: January 16, 2023, 19:53 IST
Crypto token GARI has crossed the mark of 2 million token holders in just 11 months of its integration into short-video app Chingari. The jump has propelled the GARI token to the second-largest project on the Solana blockchain in terms of the number of token holders, according to a company statement. It added that 1 lakh new token holders were added to the GARI network in just the past 10 days.
As part of the GARI mining programme, users and creators are rewarded with GARI for viewing, commenting, and uploading videos on Chingari’s app. Gari is Chingari’s native crypto token.
Chingari in the statement said that since its launch in February 2022, the GARI crypto token has gained a great deal of community support and attracted 600,000 token holders within three months. By July 2022, 700k users had signed up for the Gari wallet. With the number of token holders continuing its upward trend, 1 million token holders were registered on August 2, 2022, and now it has surpassed the 2 million milestones.
Sumit Ghosh, CEO and co-founder of Chingari said, “The 2 million user milestone is a testament to continuous adoption of the Chingari app amongst the new users. With the launch of our initiatives like video NFT Marketplace, subscription plans, audio rooms, and GARI Mining, users now have now access to a wide range of options to monetize their content.”
Ghosh added that he is passionate about enabling users and creators to benefit from the new tokenised economy, and Gari is at the core of his company’s efforts. “We are looking forward to the next phase of growth, as we plan to onboard the first 1 billion crypto users on the Chingari platform.”
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