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Chingari Raises $19 Million for its Crypto Token.

Chingari, a video sharing social media platform based in India, recently announced their preparation to launch their Blockchain and also look to create their social token.

The platform just concluded their funding rounds generating well over $19M to expedite the launch of its mainnet, and also enhance the sales of its Gari token which is built on the Solana Blockchain.

According to the Chief executive officer of Chingari, the sale of the Gari token will kickstart on the 2nd of November, the mainnet launch and it’s integration to the application have been scheduled to be activated by the end of the Month.

The funding was completed after a token raise in one seed round and one private round. Previously in 2020 and second quarter of 2021, Chingari had raised almost $2 Million and $13 Million respectively.

The CEO, while addressing the press about the platform’s blockchain, said the blockchain will enable users to get tokens for creating and consuming content. During his interview he clearly stated his desire for the Token to repeat the success of Axie Infinity.

Chingari witnessed a massive growth in her user base after India banned the use of Tik Tok in the country, the social Media platform recorded over 50 million user within the space of 6 months after the announcement of the ban of Tik Tok in the country.

A lot of social media platforms are gradually adopting blockchain technology, big firms like Tik Tok, Twitter, etc have also made Giant strides in the crypto currency industry.

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