It was only six months later that the product went live. GARIChingari launched cryptocurrency with over a quarter million holders.
That’s according to data from GenX Analytics, which shows there are now 238,000 individual GARI token holders, putting it behind only the KIN token – which has 2.9 million holders – in the overall Solana popularity stakes. It’s well ahead of the chasing pack too, with SOLCHICKS, the third-most widely held token on Solana, counting just 92,000 total holders.
GARI’s astonishing rise in popularity was expected. This is Chingari’s native cryptocurrency, and it has grown rapidly to become India’s most used social media app. With more than 32 million daily active Chingari users, there’s obvious potential for GARI to grow far, far bigger than it is now. Chingari is a TikTok-clone. It allows users add filters, background music, and other effects to their video and to share it with millions of others. Its user base has increased dramatically since TikTok became illegal in India two-years ago.
The largest social media platform to accept cryptocurrency is Chingari. It believes GARI will play a big role in its platform, helping to foster an ecosystem that will enable top influencers to sell physical merchandise and NFTs, while users will be rewarded with GARI tokens for posting content that’s shared widely on the app. You can also tip your favorite content producers.
It’s a popular concept that has been championed by none other than Salman Khan, a legendary Bollywood actor with more than 43 million Twitter followers who not only helped launch GARI, but also acts as Chingari’s brand ambassador.
There’s every reason to believe GARI can eventually surpass KIN to become the number one project on the Solana blockchain. GARI has only just launched, in October. What’s more, Chingari only launched the GARI mobile wallet in its app last month, meaning that it has only just begun to tap its 30 million-plus user base, each of whom may eventually become a GARI holder.
GARI’s rapid growth contrasts sharply with the larger project that it is trying to capture. They actually have some commonalities. KIN, like GARI, was designed by the creator of a popular app – the messenger app Kik. However, KIN has lost a lot of value as Kik has been plagued by problems with the U.S. authorities and accusations that it’s used to share illegal content.