Chingari, one of the burgeoning short-video applications, is slowly joining the decentralized economy. Launched in 2018, this platform has gained over 35 million users, mostly content creators in the Indian market. The firm is now looking to compete in the international market against heavyweights such as TikTok, Instagram and Snapchat.
While Chingari’s current model is built on a centralized ecosystem, it is among the pioneer social media applications to feature an in-built tipping mechanism. Fans on Chingari can tip their favourite content creators through a native token $GARI that debuted back in October 2021. It has since been listed on major crypto exchanges, including KuCoin, FTX and OKX.
Well, that is just the tip of the iceberg; Chingari’s interest in the crypto-verse seems to be growing bigger by the day. They have joined the metaverse trend following the launch of the much-awaited GARI Panda NFTs, a digital collection that features 9,999 unique on-chain characters.
Chingari’s Upcoming Metaverse
Dubbed the Chingari-verse, this virtual world will expose Chingari users to the future of digital ecosystems. Before diving deeper, it is worth noting the metaverse is a futuristic ecosystem where internet users can replicate real-world activities. This concept became popular following the paradigm shift to remote working and virtual events post-covid.
Most notably, the metaverse is attracting artists and celebrities who have long been sidelined by centralized social media platforms. It comes as no surprise that a social media giant such as Chingari is gradually setting the stage for its users to experience the future. The launch of GARI Panda NFTs is the beginning of this transition.
So, what is GARI Panda and why is it a big deal for Chingari’s stakeholders? Similar to the likes of CryptoPunks and the BAYC collection, GARI Panda NFTs are digital collectibles designed with distinctive features. However, this particular NFT collection has a fundamental utility - powering the Chingari-verse.
GARI Panda NFTs
Built on the Solana ecosystem, GARI Panda NFTs were launched on March 29 via a recently concluded presale hosted on the SolRazr launchpad. Out of the total 9,999 ‘Panda’ collectibles, 4,999 are now trading in the public market while the remaining 5,000 have been reserved for ecosystem incentives (to be equally shared between SOLR and GARI communities).
The GARI Panda NFT collection will not only enable creatives on Chingari to join its metaverse but access exclusive features. Most notably, this NFT community will have access to the Chingari Ads club, enabling users to run advertisements in the Chingari application. Additionally, GARI Panda NFT owners can explore Chingari-verse for free throughout their lives.
As for income generation, GARI Panda club members will be rewarded with p2e tokens for participating in on-chain games funded by the GARI community. This metaverse will also include a recording music label and movie production multiplex where creators can invest in decentralized short video productions to increase their passive income.
Last but not least, GARI Panda NFT holders will have an opportunity to attend exclusive ‘invite-only’ events, featuring prominent celebrities in Bollywood and leading content creators across the globe. These are just a few of the perks; Chingari will also introduce NFT staking and creator NFTs where part of the revenues will be shared with the contributors.
Wrap Up
The metaverse might still be a foreign concept to most people but one can hardly ignore the growing interest in digital worlds. Popular celebrities, including Paris Hilton and Snoop Dogg, are among the retail investors that have acquired virtual lands. Going by the trends, it is likely that more Hollywood stars will start to leverage the metaverse to host events, meet-ups or parties.
Corporations are also rushing to get a piece of the metaverse gold mine. Besides Chingari, Facebook has hinted that it will launch a virtual world following the firm’s strategic rebrand to Meta. While it may be soon to predict whether there will be a single or multiple metaverses, it is almost certain that citizens of the world will soon be living in virtual ecosystems.
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2022-04-03 15:30:13
