Chingari’s GARI raised $ 40 million in 24 hours of CoinQuora direct sales

• Chingari announced that its crypto token, GARI, had raised $ 40 million.
• This happened within 24 hours of being sold directly on the Republic platform.

This is a good day for Chingari. According to reports, the short video app announced something interesting last Thursday.

In the announcement, Chingari stated that its first cryptocurrency asset, GARI, raised a whopping $ 40 million within 24 hours of the direct sale that took place on the Republic platform. To clarify, Republic is a crowd-equity platform that provides investments for startups in the real estate, gaming, and crypto industries.

Commenting on the subject, Chingari stated:

GARI is designed to give content creators a chance to make money. Tokena is built: one of the largest blockchains growing in the world.

In detail, Chingari allows its users to upload short videos and purchase some merchandise in the app. Actually, these are just some of the things you can do with Chingari.

Located in Bengaluru, Chingari has rivals Instagram reels, MX Takata, Josh and Moj. What’s more, the company is proud to have about 50 million monthly active users and about 85 million downloads to date. Moreover, its founders are confident that it will soon be India’s ‘Social Token app’.

In addition, Chingari also raised $ 19 million in the previous round of financing – at the hands of more than 30 venture funds and investors.

When India banned TikTo, the company worked hard to fill the gap it created. He redesigned his app to meet the needs of users. With that, Chingari’s users increased significantly – as his team says. Since then, in addition to entertaining users, it continues to live up to their expectations.

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