Video-sharing app Chingari set to launch IDO on SolRazr
India’s top video-sharing app Chingari will launch its $GARI cryptocurrency token on the Solana SolRazr launchpad via an Initial Dex Offering (IDO) from December 15-18, 2021.
What’s great is that the IoT is historic in many ways. This is one of the first instances where a video platform launched a cryptocurrency token.
The $GARI token has its use in the Chingari ecosystem. Content creators, fans and members will use $GARI for several activities. This utility gave $GARI an edge for social tokens.
Tech companies are coming to the decentralized space
Chingari was seen by many as a direct competitor to TikTok and YouTube Shorts. Since TikTok was banned in India in June last year, many have turned to Indian local solutions as credible alternatives.
Few have had the popularity and appeal that Chingari has had with its growing user base. The decision to include a web3 component (the $GARI token) has added to this excitement as web3 technologies become popular across the globe.
Another angle that has fueled the excitement is that a local, made-in-India solution would finally compete in the big tech space. While Indians are making huge strides in hiring ahead of the pack, Indian tech companies have yet to cross the invisible barrier where big tech companies rule from their collective perch.
This may change. The emergence of companies like Chingari, which will go all the way and integrate emerging web3 technologies into their ecosystems, is a sign of this change.
It is also proof that Web3 technologies are gaining traction and being adopted faster than previously thought.
Metaverse will work with video
While social networks using video shorts have been well received, the launch of the Metaverse and the connection of the video community will be a huge boost for all platforms on earth.
Chingari should be no exception. As the Internet continues to grow, metaverse ecosystems are emerging. Some say they could very well see Chingari’s version of a Metaverse ecosystem using video shorts and more soon.
We are already seeing forms of social interaction moving in a direction where metaverse ecosystems are possible. Chingari, as a platform, will soon have its Metaverse.
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IDOs are all the praise of the Web3 industry
IDOs are finally getting the attention they deserve. Ever since the initial coin offering (ICO) slowdown in 2017, individuals have been eagerly awaiting the next provider of liquidity-generating events. The IDO, it seems, is the one.
The sudden rise of Smart-Contract enabled blockchains and Decentralized Finance (DeFi) has created a new onslaught of these IoT launch pads. The emergence of Solana, one of the best Smart-Contract capable blockchains, brings yet another innovation to a space known for thinking outside the box.
SolRazr is one of those Dex launchpads that has everything it takes to get platforms like Chingari on board. As the premier developer ecosystem for Solana, we envision an ecosystem where anything is possible. This takes into account the types of launch, incubation and acceleration activities they undertake.
The great thing is that this is just the beginning of Blockchain Solana. We’ll see quite a few improvements in IDOs and other cash-generating events as things move forward.
The ability to mint NFTs on the Chingari platform already speaks volumes about the importance of Solana as a blockchain. Seamless integrations across blockchains prove essential when integrating new features into the Chingari ecosystem.
NFTs could forever change the way video shorts and Web3 technologies interact. Content creators will find that Chingari is a platform that gives more to its user base than it gets. No one can say the same about the big tech short video giants who only want one thing: power and control.
As the event takes off in the next twenty-four hours, we will see a lot happening at the same time as the token launches.
SolRazr will have a new use case scenario. In what seems like a series of firsts, SolRazr will be the first IoT launch pad in the web3 space to launch a video shorts platform token. This gives the dashboard a forerunner advantage in the cryptocurrency industry as a forward-thinking platform.
The important part of using this token is that most of the creators and fans of Chingari’s platform are ordinary people. So that eliminates the argument that only nerds and geeks use cryptocurrencies.
It may not look like anything important right now. But over the next half-decade, depending on the lifecycle of the video shorts space, the move of Chingari and its $GARI token could set the tone for the space.