Posted by Mumbai: The on-chain social app Chingari powered by GARI is banking on Web3 as the game changer in 2023. The use of Web3 will dominate in their newest features and products in the year 2023, according to Chingari’s Co-Founder and CEO Sumit Ghosh.
“For us, the year 2023 will be all about broadening our horizons and dominating the use of Web3 in our newest features and products,” said Chingari CEO Ghosh.
“All of our innovations will take the form of Web3 products, which will facilitate us in heralding the long-awaited revolution in the creator’s economy. We envisage exciting times ahead!,” added Ghosh.
Banking on success and achievements in 2022, Chingari has plans to enter new verticals such as live e-commerce, Web3 ads, and initiatives such as an earn-and-learn module in 2023.
The app has over 170 million users across the globe and showcases videos in more than 15 languages. It was one of the top 20 most downloaded apps on Google Play in 2022, and over 200 million videos are being watched on the app on a daily basis.
Many of the features and initiatives launched in 2022 such as social tokens and NFTs saw substantial use of Web3.
In 2022, Chingari powered by GARI allowed content creators to monetize their content on the platform. The app integrated it’s Social Token- GARI on the platform in June 2022, enabling new creators on the app to immediately begin earning on the app through the create2earn module under its GARI Mining Programme.
GARI Token has received great enthusiasm from the community with almost 1.5 million GARI holders in a record time of just 8 months from launch. Chingari aims for active wallet users to reach 2 million by 2023. Further, it introduced Chingari Audio rooms, which allowed creators to connect with their app followers in real-time.
The monthly user activity on audio rooms exceeded 15 million minutes within months of its launch and saw participation from 100+ countries globally.
It also launched the first video NFT Marketplace – Creator Cuts in August, which allowed creators to mint and sell their best content, while users can bid and buy vNFTs, bet on creators, and get a 10% share of the creator’s future earnings.
In 2022, Chingari expanded to Indonesia, US and UAE but has plans to launch in Latin America, Africa, and Europe in 2023.
It also introduced new features such as Chingari LIVE and GARI Staking, as well as original IPs such as Chingari Gupshupp, which enhanced the entertainment quotient for Chingari users. And most recently it launched a monetization plan called Chingari Subscriptions as well.