- KuCoin and Chingari will award $20 million to users of the video-sharing app who post five videos on the app and enter the ‘Chingari Star’ contest.
- Users can vote five times every day for their favorite video content creators, with the winner set to walk away with $10 million as the other top contenders split the other $10 million.
One of the most popular crypto exchanges in the world is teaming up with a fast-rising video-sharing app to reward users with $20 million for participating in a content creation contest. KuCoin has joined hands with Chingari, an Indian app, to reward the $20 million in $GARI, the native token of the video-sharing platform.
Chingari is one of the largest social media apps in India, despite only launching in 2018. Nicknamed the TikTok of India (a country that incidentally banned TikTok), it boasts over 110 million registered users. Its biggest appeal is the ability for users to monetize their content and earn $GARI, the native token which at press time was up 11 percent intraday to trade at $0.59.
In a press release shared with CNF, the social media app announced the launch of its ‘Chingari Star Contest,’ which will run for the next month. It aims to boost content creation on the app, with a special focus on the remote areas of India which many platforms have ignored for years.
Also Read: Popular Indian Short Video Sharing App Chingari Launches Crypto Wallet
In partnering with KuCoin, Chingari was seeking to reach a wider audience and boost user attention on its app. CEO Sumit Ghosh hopes that the prizes up for grabs will motivate content creators to “bring their A-game with fresh and brand new content and boost user acquisition rates, participation, and creation of videos on the platform.”
He commented:
Looking at the overwhelming response that we have received from the creators so far, it only made sense to commence the contest from 15th Feb. The extra time can be utilized by new users to build their profile on the Chingari app- and get a fair chance to win the contest against the creators that are already popular on the app.
For KuCoin, the partnership is the latest in a series of moves aimed at promoting Chingari. The global exchange is already an investor in the project, having participated in the recent $35 million fundraising round last month. It also listed the $GARI token, as did six other top exchanges, exposing it to millions of potential users worldwide.
According to Johnny Lyu, the KuCoin CEO, the contest will not only boost the market appeal for Chingari, but will also promote crypto and blockchain in general. He commented:
As the accelerator and participant of the crypto industry, KuCoin is excited to join forces with Chingari to launch this contest, which will help more users become aware of, understand and get into the crypto world.
To participate, users will need to complete their profile and registration on the Chingari app, upload five videos on the app, and apply to become the ultimate Chingari Star.
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