Chingari, the TikTok version of India’s market, is set to debut in the metaverse. The project has officially launched its NFT collection ‘GARI Panda’, which is currently on presale on the SolRazr IDO launchpad. GARI Panda features 9,999 unique digital collectibles that will be fundamental in powering the upcoming Chingari-verse.
This ongoing presale event will close on March 31, setting the stage for the public sale of GARI Panda NFTs. According to the distribution schedule, half of the GARI Panda NFTs will be sold through the presale while the remaining 5,000 will be equally reserved for the SOLR and GARI communities.
With the metaverse gaining traction in recent months, Chingari’s NFT collection launch is a significant milestone in the platform’s journey to becoming a fully decentralized ecosystem. This short-video sharing application touts over 35 million users monthly, most of whom reside in India. They also recently raised $15 million in a funding round led by Republic Capital.
GARI Panda NFTs will enable Chingari to expose its users to the metaverse, creating more opportunities to generate income from their content. Unlike most of the NFT collections whose value is speculative, GARI Panda NFTs will allow creators on Chingari to access a wide range of advanced features and exclusive access.
Some of the notable functionalities include lifetime free access to Chingari’s metaverse, voting rights, Chingari Panda club membership and exclusive interaction rights with leading content creators. Furthermore, GARI Panda NFT owners will be eligible for a share of the revenue generated from the GARI DAO.
Looking into the future, Chingari will integrate GARI Panda NFTs into their advertising model. Brands looking to market their product will have to purchase these NFTs before they can place ads. The project will also partner with reputable music and video streaming platforms to expose its NFT community to premium content.
Most notably, Chingari is set to introduce an NFT staking feature that will scale the income generation opportunities for GARI Panda NFT owners. Chingari-verse will reward its NFT stakers with the native $GARI token, which is already being used as the incentive asset for content creators and fans on Chingari.
While the metaverse may be a new concept, Chingari’s interest in this burgeoning virtual world is no coincidence. Other heavyweight social media platforms, including Facebook, have also hinted at joining the ecosystem.