Chingari Revamps The Creator Economy With Unique Engage-To-Earn Concept
June 14 2022 - 2:30PM
NEWSBTC
The biggest champion of cryptocurrency in social media, Chingari,
is now offering an income stream to millions of creators and users
of its short video sharing app. India’s TikTok clone has just
announced that its GARI Mining program is now live, meaning
creators and users of the platform have a way to earn
cryptocurrency from doing what they love – creating funny videos,
watching them and sharing their favorites with other users. Under
the program, Chingari users will be able to obtain rewards, paid
out in $GARI tokens, by completing a range of daily activities such
as logging into the app, viewing content, liking stuff, sharing it
and commenting. It’s no chump change either – Chingari explained
that it will create a daily reward pool of 50,000 $GARI for users,
with $5,000 GARI set aside as a login bonus and the remaining
$45,000 GARI to be distributed to those who complete other
activities. With the launch of GARI Mining, Chingari says it’s
creating a fairer and more dynamic creator economy that introduces
the concepts of create-to-earn, watch-to-earn and engage-to-earn in
the world of social media. Users will get paid for interacting with
the app each day, and will be able to use those earnings to tip
other content creators, buy merchandise on the platform or even
cash it out into real money. Chingari co-founder and CEO Sumit
Ghosh said the company is really democratizing the creator economy
and ensuring a level playing field for all influencers, no matter
how many followers they have. Most importantly, creators will no
longer “be at the mercy of brand collaborations as their only
source of income,” he said. It’s a fair point, because for all the
buzz about creators being able to make a living on platforms such
as YouTube and TikTok, the reality is that unless you have millions
of followers, whatever income you can earn is essentially peanuts
in comparison to what those sites keep for themselves. As a result,
most influencers are forced into doing sponsored posts where they
advertise branded products, in order to earn a competitive income.
The GARI Mining program will provide a new option for creators,
with Ghosh promising $12 million in annual payouts to users, based
on $GARI’s current token price. Chingari’s top influencers will
also be able to maximize their earnings potential by purchasing
basic, bronze, silver, gold or diamond NFT GARI Badges that allow
them to multiply their rewards by up to ten-times. The program is
expected to create renewed interest and growth for what is already
one of India’s most popular apps. Chingari is ranked in Google
Play’s top 20 in terms of app downloads and boasts over 40 million
monthly average users. Image source: GARI
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