With an aim to empower creators and users, short-video sharing social media app, Spark has announced the GARI mining program under which the platform will offer cryptocurrency of the same name. GARI, the social token, will be provided to creators and users for performing in-app activities. The Solana blockchain-based digital token will be offered to users annually worth Rs 93 crore.
The GARI Mining Program will promote the Create-2-Earn, Engage-2-Earn and Watch-2-Earn systems that will help the 4 million Large Monthly Average Users (MAUs) earn GARI tokens. With the launch of the program, Spark will become the world’s first social media and video sharing application to offer cryptocurrency to those who engage on the platform.
The spark app will also allow users to further increase their earnings on the platform by using GARI badges. GARI Badges are NFTs that users can purchase in-app. These badges will include five levels – Basic, Bronze, Silver, Golf and Diamond – which can multiply their earnings by 2x, 3x, 4x, 5x and 10x.
Talking about the GARI mining programme, Sumit Ghosh, Founder and CEO, Spark said, “We are extremely pleased to announce the GARI mining programme. We promised to democratize the producer economy a few years back when we launched Chingari and GARI Mining is at the forefront of that process.”
Ghosh explained that with the GARI mining program, creators and users on the platform will be free and brands will no longer be at the mercy of collaboration, which is currently the only source of income for creators. With the launch of the mining program, creators can like, view, comment and share content on the platform and earn GARI tokens. These digital tokens can then be traded for money.
Launched in November 2018, Chingari became one of the largest social media and video-sharing platforms in India. The app got a further boost after July 2020, when TikTok was banned in India. Chinagari has around 13 crore users engaged and more than 50 lakh daily active users.
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