India's short-video platform Chingari is set to list its own social taken GARI on six cryptocurrency exchanges, The Economic Times has learned. While Chingari co-founder and CEO Sumit Ghosh didn't clarify the timeline, he said the token will be listed on FTX, OKEX, Huobi, Kucoin, MEXC Global and Gate.io.
The token — which is based on the Solana blockchain — will reportedly give creators a tool to set up their own e-commerce spaces or even create a non-fungible token (NFT). Users will also be able to fund their favorite artists with the token.
The move comes after Chingari raised $15 million in a round led by Republic Capital. Other investors, including OKEx also made a strategic investment. The company plans to use the proceeds to increase marketing initiatives.