Bollywood Actor Salman Khan Unveils Crypto Token GAAR: Know All About It

New Delhi: With bitcoin prices booming like never before, the cryptocurrency frenzy has swept the country. The Hindi film industry has also jumped on board to promote the cryptocurrency platform and launch a non-fungible token, or NFT. Salman Khan, who has recently joined the block, is a Bollywood megastar.

Superstar recently announced India’s first crypto asset GARI, which was launched by a micro-content, short video platform, Chingari. Khan announced the news on Twitter, saying, “I’m officially launching spark’s in-app GARI Token rewards program and its NFT Marketplace. You can buy my videos NFTs, exclusively on the Gari NFT Marketplace. Content Cheers to a new chapter in creation and monetization!!! #ChingariKiGari #GariTokens.”

What is $GARI token?

Short-form video app Spark has entered the cryptocurrency arena with its crypto token GARI. GARI, an alternative blockchain token, will function as “both in-app money and a governance token of the future,” according to the company. The token will be created in collaboration with the Solana blockchain.

Social tokens are digital assets that are backed by an individual, brand or community. “They allow creators to receive more equal pay and build deeper connections within audiences,” the company said.

“We are offering Gaar as a social token to the community of spark creators that will give them governance authority over future platform development through The DAO and create a circular economy,” the video app further elaborated. .

Spark’s GARI token aims to incorporate cryptocurrency into the daily lives of content creators and viewers. The gradual use of tokens or coins will help in the uninterrupted adoption of tokens in the long run. The basic mechanism of the Spark app will help new users to enter the crypto realm with a “familiar short-term tool”. Also read: DMart CEO Ignatius Navil Noronha Is Now Billionaire, Here’s What Made Him So Rich

How one can use GARI token

Users of the Spark app can use GARI tokens both inside and outside the app to interact and transact with their peers, cast governance votes, and catalyze platform engagement and user base expansion. Four groups of actors drive the Spark ecosystem: 1) creators of content, 2) viewers, 3) advertisers, and 4) developers. The GARI token connects all stakeholders on the network.

The app allows users to create and share short form videos with the rest of the world. Every time you make a video on spark you are given Gari Tokens. The spark program allows users to create and share short form videos. Every time a creator creates a video, he or she will receive a GARI token.

Viewers can also use GARI tokens for international purposes, including purchasing goods and services directly from the video or author profile. GARI tokens can be used to buy items seen in the video. “Every video uploaded to spark is parsed frame by frame and all items are detected and then matched with a live catalog of products and each video to hit your feed in real time. becomes enabled. All these social video commerce transactions will be done using Gary tokens in the future.”

Social tokens can be used as a way to vote on the platform direction to share in governance and be rewarded with APY, furthering the common purpose. It can also be used to help creators by giving them tips. Tokens can also be used to purchase or obtain exclusive content and services.

“The goal is to empower both creators and audiences with the technical and financial tools to interact directly with each other and take control of the long-term direction of the social economy that affects the platform and product,” the company said.

Spark will enable content providers to incorporate various items (including digital, such as NFTs) along with spark skills courses into their content. “Such transaction involves fair exchange of a commodity for the prescribed price paid in GARI,” it further added.

The GARI token has a total supply limit of one billion and an unlocked structure that will support 200 to 300 million in circulating supply at the close of the first year. “Our mission is to institutionalize the space and drive the growth and advancement of the underlying ecosystem and technology behind digital assets and blockchain,” said Sumit Ghosh, Founder, CEO and President, Spark.

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