January 21-st held an Ask Me Anything session at ICOSpeaks telegram chat. From the Gari
Before we go to the first set of questions, could you please do a short self-intro?
Aman | Product Manager | @GeekyAman
I am Aman I am leading the product side of GARI and working as product manager.
Siddhant Chowdhry | Community Manager | @Sid0805
I am Siddhant Chowdhry working as Community Manager for GARI and handling marketing as well.
Let’s get started!
Q: Could you please give us an overview of the project and the goal behind your team’s vision?
A: Gari is a social token. when I saw web3, DAO’s and the concept of a community and creators owning the platform which they are creating. I think that is a very strong fundamental idea. The goal of gari is to give ownership, governance and a way of democratically uniformly earning back to creators. So imagine owning or being an early adopter of TikTok, or owning a stock or a stake in Facebook, how powerful is that. That is the vision behind Chingari. Chingari in general has a lot of potential. We as a social media company can get hundreds of millions of social media users into crypto. That is the big vision of Chingari.
We have been building the project extensively and we are looking to add a lot more things to it.
We are moving in the space of Play to earn, watch to earn and Engage to earn on Chingari App.
Q: Can you help us understand the Market Opportunity for Social tokens? What makes you excited about this space?
A: Social tokens are the future of social media. If you have seen the evolution — Web1 was read-only where you can just browse static websites, people used to create websites using HTML and people could just read information. Web2 was read and write, where it gave the opportunity to creators to create content and we saw the evolution of social media. We saw really large social media companies Facebook, youtube, Twitter, TikTok come out of the Web2. I think web 3 is about read, write and own where creators will also own and this ownership will be powered by social tokens.
GARI is their first social token and the world’s largest social token. Imagine 30 million active users going on-chain. So the opportunity of social tokens is really large in fact in the future, all social media companies big or small will launch their own tokens to give ownership back to their users and if they don’t they will be out of the market.
Q: Since you mentioned about Chingari, could you enlighten our viewers about the Chingari App?
A: Sure, Chingari , India’s leading short video sharing app with more than 32 million daily active users, has reached another important milestone in its journey.
Chingari is now India’s number one social media app on Google Play, surpassing popular apps like Facebook, Instagram, and Snapchat.
Founded in November 2018 by Sumit Ghosh, Deepak Salvi, Aditya Kothari, and Biswatma Nayak, the Chingari app has rapidly risen from relative obscurity over the years to become India’s hottest social media platform, thanks to distributed ledger technology and crypto.
We are also soon going to integrate wallet in Chingari App and that’s when the real game starts.
Q: Could you Explain about utilities of GARI?
A: The GARI Token is interconnected with the Chingari App, opening to Chingari App users a wider blockchain world where they directly control their assets and can use their tokens to connect and transact with their counterparties, place governance votes, and catalyze platform engagement and user base growth
Here are few utility.
Tipping – Users can use the Gari tokens in their in-app Gari wallet to tip their favourite content creators directly from the video feed as well as from the Creator’s profile. These transactions are completely on-chain
Boost – Creators will be able to boost their profile and posts to 100M+ chingari users, while making the payment for the service through $Gari.
Token Gated access – Gari holders can access exclusive content on Chingari platform by staking their tokens on creator pools.
NFTs – Chingari will be the world’s biggest video NFT marketplace. These NFTs can only be purchased with $Gari tokens
Audio Rooms Currency – Audio rooms is a feature on Chingari app, similar to clubhouse, where creators can connect with their followers over audio meetings. $Gari will be used by users to purchase gifts for these creators.
Chingari Live Streams – The Creators will be able to do live streams on the app. The live streams will be exclusively available for those staking $GARI or buying NFT.
and most important one
Governance: $Gari holders will be able to stake and earn yield as well as vote on proposals to decide the future direction of the platform.
Q: What is your roadmap for 2022, and what can we expect from Chingari and the GARI token in 2022 and beyond.
A: We have a very exciting roadmap for 2022. The product will be integrated with the Chingari app and roll out by the end of this month. At the same time, it will also be getting listed in a couple of major exchanges. Post that, there are a lot of product developments, we are coming out with Chingari audio rooms, just like Clubhouse where users will be incentivized to create rooms and be active in rooms with Gari tokens
There are a lot of NFT’s based use-cases that we are building, every video that you upload to Chingari will be mintable into a Solana based NFT, so imaging millions of users buying selling and trading NFT’s and this NFT marketplace alone will be a couple of million dollars a week in terms of revenue for Chingari. I mean look at what Axie Infinity has done with their NFT marketplace in the Philippines. With just two million active users they are doing some 20–30 million dollars weekly. I think the concept that your viral videos can be converted.
Q: What is your plan for Staking & Farming for $GARI?
A: Yep we do have plan !
Gari tokens have staking features, so basically you can stake other creators. Let’s say I find a creator early in his journey and I stake my Gari tokens to him — these tokens go to a staking pool and the creator can take a loan from the stake pool and he can buy a better camera, better equipment, better clothes and become a better creator. One basically earns 7 percent of all of the revenue that this creator earns in future from the NFT and the creator economy flourishes.
So if one of these videos goes viral and let’s say that NFT gets millions of dollars of trade in a month, the user will get 7 percent of that for staking him in his journey.
Imagine you stake 10 creators and overall these 10 creators and they make 10 million dollars in the next one year you will get 7 percent of that. We are basically bringing staking to the next level on social media. We are calling it social staking. This is the first time that any social media company is still thinking about this feature and Chingari is the first one to implement it. 🙌🏻
Q: What major partnerships does your project intend to use or how does your project bring its products to the average consumer — especially non-crypto users?
A: So we have Salman Khan as our brand ambassador. Salman Khan is like the Brad Pitt of India, with more than 100 million followers across all social media platforms — Instagram, Facebook and Twitter.
He is our brand ambassador and Chingari is one of the fastest-growing social media apps in India today. If you go to Google play store in India and check the top app on social you will find Chingari in the number 2 or number 3 app just before or after Facebook. So we are growing really really fast as a social media app.
We have partnerships across and for music, we have T — Series, Saregama all of the biggest music labels. A lot of Bollywood celebrities are on Chingari promoting their content and promoting their movies. We are basically taking the Bollywood angle where we involve Bollywood celebrities to promote Gari and Chingari. Most of them are already promoting Chingari and by default, we are promoting Gari as well.
Q: Where can I buy your tokens now?? Can you tell us please?
A: That’s a good question !
If anyone is willing to Purchase GARI, we are listed on 14 exchanges as of today and planning to list on few more in upcoming week.
Since we are Solana based Project, we are not there on Pancake Swap.
We are listed on FTX,Kucoin,Bitmart,Gate io,MEXC,Okex,Bitbns,LBank, Zebpay etc.
Q: Do you have a whitepaper? if yes please share it with us and secondly are you working to AUDIT your project, to make its security more secure and reliable?
A: Yes, we are already audited, safe, secure and reliable.
We have a white paper on our website where you will get every detail of the project.
Q: Increasing Token price 2- make Token Valuable 3-Building Community Trust From 3 aspects above,. I want to ask,. Which one the most important for you?? If all above are important for you,. Which one that Will you do first??
This is because the Web3 space is built by the community, and for the community. We, at GARI, believe in a business model which leverages the power of community. The creator economy exists and flourishes only with Community Assistance and mutual understanding.
Q: Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
A: We have been expanding ourselves to every country/region we can, we have been doing extensive marketing to increase our reach.
Our aim to spread the word GARI globally.
We do have global groups as well where you can join and discuss GARI in your native language.
Q: A common problem is that nowadays most investors are only interested in initial profits and ignore long-term benefits! So can you give them some reasons why they should buy and hold your tokens in the long term?
A: Correct but at $GARI we have tons of utilities and ready product with over 100mn downloads which will be expanded globally.
So, as the utility will be live, in future the project and Tokens will be grow as well.
Q: Current NFT is a hot topic, but are NFT not just for art. Does your project think that more real world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously?
A: There are a lot of NFT’s based use-cases that we are building, every video that you upload to Chingari will be mintable into a Solana based NFT, so imaging millions of users buying selling and trading NFT’s and this NFT marketplace alone will be a couple of million dollars a week.
Which mean more than just a ART 😁
Q: 1) Smart Chain ℹ️
2) Tron ℹ️
3) Etheriam ℹ️
4) Polygon ℹ️
Or any other network?
Please tell me which one of these..
A: We are based on Solana Network, there have been rumours that GARI is available on BSC or ETH, that’s actually not true.
We are only available on SOL, and planning to diversify ourselves and integrate with other blockchains as well in the coming future.
ICOSpeaks hosted an AMA Session with the Gari Team. That’s all for today.
Thanks to all users who participated.
Thanks, Gari for being with us
Thanks, all and see you soon😉
would you like to join our best crypto telegram groups and channels ?