Chingari is India’s popular short video sharing mobile application which has numerous facilities to attract the users. This entertainment app now secured $19 million in crypto funding rounds to build its token ‘$GARI’ with advanced crypto technology “Solana blockchain.”
However, the Crypto industry is growing at a fast pace attracting almost all other groups into its digital world. It is significantly visible that crypto adoption is bubbling up along with its innovative technologies supporting the industry.
Chingari ($GARI) with Solana
The CEO of Chingari, Sumit Ghosh is smartly moving along with the trend of crypto’s which will be the vital source in the near future. So, he planned to launch a new token called ‘$GARI’ which will be the sensitive piece of the network. Thus, the capital amount $19 Million will be utilized to upgrade the platform, to inaugurate a Chingari’s crypto token with Solana blockchain.
Moreover, the crypto funding was successful involving great investing ventures and individuals associated with crypto firms. It includes RepublicCrypto, Alameda Research, Solana Capital, Valor Equity Partners,Galaxy Digital along with Kraken, a US based Crypto exchange.
Besides, the most interesting part of Chingari network is partnering with Solana Blockchain which is a popular crypto technology at present. In addition, the crypto market has a wide range of followers and users in India which can boost this partnership to a greater extent.
Also, Solana is reaching its all-time high value in the marketplace for its transparent ecosystem and low transaction cost. Additionally, Solana blockchain is owning a censorship which develops an open network for platforms to achieve global adoption. Thus, Solana’s fame in the crypto market will raise the monetisation of the app.
Crypto Funding
Further, the $19 million secured through fundraising includes various crypto assets such as Tether (USDT), stablecoins and USDC. More so, the short video app has a great reach covering up 30 million active users with over 78 million visual downloads. The CEO of Chingari app shares that the high scope of cryptocurrency in India will support the platform to achieve new milestones. And the robotic strategy of combining the new token with Solana will deliver promising industry developments in the market.
However, the new advancement of launching the crypto token with the blockchain technology empowers the creators. It allows them to create their own digital space such as physical merchandise, non-fungible tokens (NFTs) creations. Besides, the creators are eligible to fund their favorite artists and stars.
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