Biggest Cryptocurrency Social Media Champion, sparknow offers a revenue stream to millions of creators and users of its short video sharing app.
The Indian clone of TikTok has just announced that its GARI Mining program is now live, which means creators and users of the platform can earn cryptocurrencies by doing what they love – creating funny videos, watching them and sharing their favorites with other users.
Under the program, Chingari users will be able to earn rewards paid out in $ GARI tokens, performing a number of day-to-day activities such as logging into the app, viewing content, liking, posting, and commenting. This is no small thing either – Chingari explained that he will create a $50,000 GARI daily reward pool for users, of which $5,000 GARI will be allocated as a sign-in bonus and the remaining $45,000 GARI will be distributed to those who complete other actions.
With the launch of GARI Mining, Chingari says a fairer and more dynamic creator economy is being created that introduces the concepts of “create to earn”, “watch to earn” and “engage to earn” in the social media world. Users will earn money for daily interactions with the app and will be able to use the proceeds to tip other content creators, buy items on the platform, or even cash them out for real money.
Chingari co-founder and CEO Sumit Ghosh said the company is truly democratizing the creator economy and ensuring a level playing field for all influencers, no matter how many followers they have. Most importantly, creators will no longer “depend on brand collaborations as their sole source of income,” he said.
This is a fair point, because despite all the hype that creators can make a living on platforms like YouTube and TikTok, the reality is that unless you have millions of followers, any income you can earn is essentially is peanuts compared to what those sites leave to themselves. As a result, most influencers are forced to host sponsored posts in which they promote branded products in order to generate competitive income.
The GARI Mining Program will provide new opportunities for creators: Ghosh promises $12 million in annual payouts to users based on the current price of the GARI token. Top Chingari Influencers will also be able to maximize their earning potential by acquiring Basic, Bronze, Silver, Gold or Diamond NFT GARI Badges which allow them to multiply their rewards up to ten times.
The program is expected to generate renewed interest and growth in what is already one of the most popular apps in India. Chingari is in the top 20 on Google Play in terms of app downloads and boasts over 40 million monthly users.
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