Chingari, the largest champion for cryptocurrency in social media is offering an income stream of millions to creators and users its short video sharing app.
India’s TikTok clone has just announced that its GARI Mining program is now live, meaning creators and users of the platform have a way to earn cryptocurrency from doing what they love – creating funny videos, watching them and sharing their favorites with other users.
Chingari customers will have the opportunity to earn rewards in $GARI tokens by engaging in a variety of activities, such as viewing content, liking it, sharing it, commenting, and logging back into the app. It’s no chump change either – Chingari explained that it will create a daily reward pool of 50,000 $GARI for users, with $5,000 GARI set aside as a login bonus and the remaining $45,000 GARI to be distributed to those who complete other activities.
With the launch of GARI Mining, Chingari says it’s creating a fairer and more dynamic creator economy that introduces the concepts of create-to-earn, watch-to-earn and engage-to-earn in the world of social media. The app will pay users for their interaction with it each day. They can use the earnings to tip content creators or buy merchandise from the platform, or cash them out to real money.
Sumit Ghosh, cofounder of Chingari and CEO said that the company was democratizing the creation economy and creating a level playing ground for influencers regardless of their number. Most importantly, creators will no longer “be at the mercy of brand collaborations as their only source of income,” he said.
It’s a fair point, because for all the buzz about creators being able to make a living on platforms such as YouTube and TikTok, the reality is that unless you have millions of followers, whatever income you can earn is essentially peanuts in comparison to what those sites keep for themselves. To make an income, influencers often have to post sponsored content where they promote brands.
The GARI Mining program will provide a new option for creators, with Ghosh promising $12 million in annual payouts to users, based on $GARI’s current token price. Chingari’s top influencers will also be able to maximize their earnings potential by purchasing basic, bronze, silver, gold or diamond NFT GARI Badges that allow them to multiply their rewards by up to ten-times.
The program is expected to create renewed interest and growth for what is already one of India’s most popular apps. Chingari is ranked in Google Play’s top 20 in terms of app downloads and boasts over 40 million monthly average users.
Image source: GARI