Chingari, a Web3 short video app, has revealed its plan to distribute 15 million Gari tokens (the platform's native crypto tokens) valued at $1.01 million or approximately Rs. 8.3 crore to creators and users through its Gari mining program. The program, introduced in June 2022, aims to empower creators and users by offering crypto tokens as incentives for their active engagement on the app.

Since its launch less than a year ago, Chingari has directly allocated 15 million Gari tokens, equivalent to $1.01 million or Rs. 8.3 crore, to the wallets of creators and users. This approach ensures that content creators retain complete ownership of their content, as confirmed by the platform. The app has also deployed a transparent on-chain payments system to promote fairness and decentralization. Users on Chingari can start earning crypto tokens right from the first day by engaging with the platform, such as liking, commenting, and watching videos.

In addition to the significant strides made in incentivizing creators and users, Chingari has witnessed remarkable growth in its revenue generation. In the fiscal year 2022-23, Chingari generated an impressive gross revenue of $10 million, showcasing a substantial jump of 56.25% compared to the previous year's revenue of $6.4 million. This growth not only reflects the app's popularity and increasing user base but also demonstrates the effectiveness of their innovative initiatives, including the GARI Mining program, in driving the platform's success.

Speaking about the positive impact of the Gari mining program on the creator economy, Sumit Ghosh, the CEO, and Co-Founder of Chingari highlighted the persistent challenges faced by content creators, such as wealth concentration, inadequate incentives for users, and limited opportunities for creators to showcase their talents. It was with these challenges in mind that the GARI Mining program was launched in June last year. Ghosh expressed his satisfaction with the program's influence on the creator economy, emphasizing Chingari's unwavering commitment to providing transparent and decentralized incentives that enable content creators to thrive and bring their creative visions to life.

By empowering creators through crypto token rewards, Chingari aims to reshape the landscape of the creator economy and foster a more equitable and rewarding environment for all participants.

Chingari Announces Distribution Of Rs. 8 Crore To Creators And Users Through Mining Programme