Chingari becomes the top Indian social media app on Google Playstore
Chingari, the short video sharing app that recently launched its tokens on Solana, has announced that it has become the No. 1 social media app in India in the Google Playstore.
It is indeed a big achievement for the small new startup to beat the likes of social media giants Facebook, Instagram, and others to claim the top spot in the country. The platform was started just about 3 years back and has been able to bring in a lot of viral growth due to a combination of its easy to use interface as users would be able to shoot and product and upload their videos themselves, without the need for complex editing software and also because it is now available in over 20 languages which is a key aspect for any platform to grow within a multi-lingual country like India.
Chingari is making waves in more ways than one, for the app also has the prestige of being the first social media platform in India to launch its cryptocurrency token. The $GARI token was launched in October with great fanfare by the company’s Bollywood superstar brand ambassador Salman Khan. Earlier this month, it successfully raised $6 million in funding through $GARI’s Initial Dex Offering on the SolRazr platform.
But amidst this euphoria for the platform and other crypto companies within India comes the sobering news that the government might bring in some strict laws which will cripple the growth of the industry in the years to come. The Crypto Bill is still in the works and there have been rumors that the government might simply choose ban all the cryptos within the country. But others, like Chingari, are optimistic.
Optimistic About Crypto Future
“Govt will regulate crypto and not ban it, which is evident that they moved the crypto bill discussions to the next session. They want to make an informed decision and have taken a learn and decide approach for regulating crypto in India,” said Chingari’s CEO, Sumit Ghosh.
$GARI is built on the Solana blockchain and has the advantage of fast, low-cost transaction speeds. Chingari sees the token as a vehicle for hundreds of influencers and other popular creators to monetize their content through the sale of physical merchandise and NFTs. It will be interesting to see how the platform would navigate the regulatory framework if and when that comes up in the country.