The Indian video sharing app Chingari, is going big on its SolRazr Initial Dex Offering (IDO). Similar fundraising and liquidity generation events have raised $12.3 million and $19 million have been raised so far.
Similar sums could be raised in the upcoming IDO considering the uniqueness and special nature of Chingari’s situation. It also makes for worthwhile consideration that Chingari is already making waves as a popular video shorts platform while being involved with the web3 space simultaneously.
The Chingari hybrid model could also be ported to other platforms as the global shift towards web3 continues.
So, being a world-first is one reason for all the buzz generated about the event. There are other reasons to consider why this IDO will be groundbreaking.
India's Population Represents a Huge Market
Sources have projected India's population to be at 1.38 Billion. It accounts for a little over a quarter of the world's total population. This market represents some of the world's most technologically savvy individuals.
We now have a video-sharing app with deep roots in India, going all the way to the decentralized space. A reflection of India's strength in technology exists. We have more technology CEOS of Indian descent (the latest being Twitter) in big tech.
We shall see an increase in this strength as the Indian population interacts with the decentralized space. There is a rise of competitors in the video space. In the video-sharing industry, users see Chingari as a rival to both YouTube and TikTok. Similar trends are already occurring as Indian developers onboard web3 projects. NRIs or non-resident Indians are part of a global marketplace that see Chingari as an emerging platform that will rule the marketplace.
We may not know the reasons for this preference for homegrown Chingari for now. It could be for national pride. Or just because Indians widely love the App features. Whichever the case, Chingari's market share is a big part of the $16 Million IDO target.
Its significance shall rise as the year folds up and 2022 unfolds. The reason for this has more to do with the emotional connection to homegrown apps and tech-savvy than with anything else.
Web3 is Going Mainstream
Like it or not, the web3 industry is going mainstream. A significant part of this industry is decentralized. Chingari's event is a sum of everything that has come before it. From the release of Satoshi Nakamoto's white paper to date. The sequence of events has led to projects such as Chingari being at the forefront of the mass adoption of cryptocurrencies and their allied technologies.
It is another step in the great leap forward towards mainstream adoption. The $GARI token is already well-known within web3 circles and has received critical acclaim. The next logical choice would be to take things to the next level.
Expected inflows based on the token's acceptance by the web3 space show will provide a basis for increased innovation by the team members.
It has also created a paradigm where liquidity generation events portend the cryptocurrency token's success in the markets. The utility behind the social cryptocurrency token serves as the basis for its popularity and valuation.
We will still see the $GARI token continue to perform strongly in the marketplace as Chingari goes from India to other markets. That would also increase $GARI's popularity and valuation across the board. With the emergence of Gen Z and their preferences for ease, security, and innovation, $GARI has a sound future with utility and use-case.
$GARI Has Celebrity Status in Bollywood and Beyond
Many people who aren't aware of the power of Bollywood as an institution within and beyond India's shores haven't considered the fact that $GARI already is popular in Bollywood. The celebrity effect alone is sure to influence how the markets respond. One example is film star Salman Khan becoming the $GARI brand ambassador.
That move alone has endeared the token and its project to other film stars who are taking notice. We shall see more celebrity influence of the $GARI token as time goes on.
It is clear, though, that Chingari is becoming a Bollywood favorite!
$GARI is built on the Solana blockchain. While the blockchain may not have before now been a fan favorite, there is a renewed interest in the blockchain because of its unique capabilities.
We find much of this interest within and around the $GARI token. As more members of the cryptocurrency space come to learn and understand that Solana is here to stay, they look for viable projects that they can invest in on the Solana blockchain. It so happens that $GARI is one token that cuts in this regard.
After the IDO What's Next For $GARI?
After the groundbreaking IDO, we can expect a few things to occur within and around the Chingari ecosystem. The first of these is the expansion in the utility of the token. As more people onboard Chingari, we can expect to see an increase in a wide variety of uses for the $GARI token.
We shall also see the emergence of Chingari as a video heavyweight. While it may not be a "TikTok-Killer" (at least not yet!), we are going to see Chingari go head-to-head with TikTok and other competitors within the video space.
We shall also see new ideas emerge from content creators on Chingari. For too long, TikTok and YouTube have held sway over the video shorts space with all kinds of rules that have stifled creativity. We shall see an end to that kind of behavior as Chingari begins to operate within international markets.
Let's face it. Chingari and its $GARI token will become a force based on rising usage and utilityto reckon with within the technology space on every level. That, however, is a story for another day! For now, we can look forward to seeing a successful IDO happen seamlessly!
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2021-12-14 14:12:00
