Today I am joined by Sumit Ghosh — CEO & Co-Founder, Chingari!
Chris: Hi there! Thanks for taking the time with me! My first question is quite general: what is Chingari and what is your mission?
Ghosh: Chingari is a Web3 company that provides a decentralized platform for users to create, share and discover short videos, while also offering a range of additional services like a Wallet, Mining tools, Staking, and NFTs. Chingari is disrupting the traditional centralized model of social media and offering users greater control over their data and content. One of the key benefits of Chingari's decentralized platform is that it allows creators to reach a wider audience without the need for a centralized intermediary. This means that creators can enjoy greater autonomy and control over their content, as well as the ability to monetize their creations in new and innovative ways. Our mission is to empower creators and provide them with the tools they need to reach a wider audience, while also allowing users to take control of their data and participate in the emerging Web3 economy.
Chris: Great! I can see there are a variety of solutions on your platform, including a Wallet, Mining tools, Staking, NFTs —which one of these services do you consider to be your primal one? The rockstar?
Ghosh: All of our services are important and complementary to one another, but we consider our GARI Mining program to be the rockstar of our offerings. It is a revolutionary service which has potential to change the social media landscape. Under the GARI Mining program, we incentivise users for engaging on the app by rewarding them native crypto tokens,thereby making Chingari the only social app in the world that gives crypto rewards to its users. The earned rewards can be redeemed in fiat currency. The GARI mining program has been a huge hit among the community with more than 2.6 million wallet holders being onboarded in just over a year, making the GARI project the second largest project on Solana in terms of numbers of holders.
Chris: Amazing! Can you talk about your core-team and how everything started for you guys? The origin story.
Ghosh: Chingari was founded in 2018 by Sumit Ghosh, Biswatma Nayak and Deepak Salvi. The idea for the app came about when the founders noticed a gap in the market for a video-sharing platform that focused on Indian users' needs and interests. Chingari decided to pivot to Web3 in order to leverage blockchain technology to improve the platform's user experience and monetization options. The move to Web3 is part of a broader strategy to differentiate Chingari from other social media apps and create a more engaging user experience
Chris: You have the community of 175+ million people, which is mind-blowing! How do you take care of it?
Ghosh: To maintain a healthy and engaged community, we actively listen to user feedback and engage with our community regularly. We have built an open communication channel that allows our users to provide feedback, suggest new features, and report any issues they encounter. We take all feedback seriously and respond promptly to ensure that our community knows we value their input. We also promote community engagement by hosting various events, competitions, and challenges that encourage users to interact with one another and share their creations.
Chris: Tell us the benefits of using your app?
Ghosh: The benefits of using Chingari are multifold. Unlike major Web2 Social media apps, one can start earning from the app from day 1 irrespective of how many followers you have. This is a huge benefit for any creator or user using Chingari app. Creators can reach a global audience and earn crypto rewards for their content through our mining, while users can discover new and exciting content on the app. Our NFT marketplace also provides a way for creators to monetize their content and engage with fans in new and exciting ways. Besides we have different offerings like Quest that gives you GARI tokens for watching ads and performing simple tasks. We have introduced in-app staking through which you can stake your GARI earnings and earn APY up to 10%. We can confidently say that C
Chris: How would you describe the current state of the crypto and NFT market and what do you project for the next year?
Ghosh: The crypto and NFT markets are currently experiencing rapid growth and adoption, and we expect this trend to continue over the next year, despite the trough cycles. It is expected in any innovative technology. As more users and creators enter the Web3 ecosystem, we believe that platforms like Chingari will become increasingly important and play a key role in shaping the future of the Web3 economy.
Chris: Any last words?
Ghosh: Thank you for taking an interest in Chingari. We are excited to be at the forefront of this emerging industry and look forward to continuing to empower creators and provide a better user experience for our community.
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