Chingari Rewards Rs8 Cr Through Mining Program
Chingari, a Web3 short video app, today announced the release of 15 million Gari tokens to producers and consumers through its ground-breaking Gari mining programme, valued at $1.01 million or INR 8.3 crore. The GARI Mining programme, which was introduced in June 2022, is an effort aiming at empowering artists and users by offering native crypto tokens as a reward for using the app.
Since the program’s inception less than a year ago, Chingari has sent 15 million Gari tokens, or $1.01 million, straight to the wallets of content creators and users, guaranteeing that they retain full ownership of their works. Additionally, Chingari produced a stunning gross revenue of $10 million in the FY 2022–23, representing a notable increase of 56.25% from the prior year. In FY 2021-22, Chingari generated revenue of 6.4 million, claimed by the company in a statement.
(With inputs from Shikha Singh)
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