Chingari’s bid to create a new “engage-to-earn” economy around social media has gotten off to a flying start, with over 100,000 app users collectively mining $313,573 worth of GARI tokens since launching its rewards program just eight days ago.
What’s great is that Chingari users have earned their rewards for doing what they love – namely, just playing with the app.
Chingari launched its GARI mining program earlier this month, creating a daily pool of 50,000 GARI that’s distributed to users who create new content, watch videos, like posts, share them, and comment. Of that daily pool, 5,000 GARI is reserved as a daily login bonus.
Users can accelerate their earnings too. Within the app, it’s possible to buy NFT-based GARI Badges that act as multipliers. For instance, a basic badge increases user rewards by two times, a bronze badge will see rewards rise by three times, while the most expensive diamond badge results in a ten-times multiplier.
The introduction of GARI Mining has had a big impact on the price of GARI tokens too. Prior to the launch, GARI’s price had been hovering at around $0.60, however, it immediately spiked to a high of $0.83 per token when Chingari’s crypto rewards went live.
The rewards have not been insignificant for some users. @newton_omb commented on GARI Network’s Twitter thread that he’d seen “amazing returns” of over $300 so far, and plenty of others have enjoyed similar payouts, and all without doing anything they weren’t already doing:
In the first 8 days of #Garimining, over 111k users mined GARI tokens from a pool of 400k which means $ 313,573 worth of GARIs has been rewarded to our beloved community just for social media entertainment on the @Chingari_IN app. Crazy right!
How much have you earned? Comment pic.twitter.com/FL1t8rqF6E
— GARI Network (DAO) (@GariToken) June 21, 2022
The GARI Mining program is the culmination of Chingari’s attempt to revamp the creator economy through the integration of cryptocurrency. By enabling users to earn rewards for the content they create, Chingari says it will help to reduce the reliance on sponsored posts as an income stream. In addition to the rewards, users can also send GARI to their favorite creators as tips if they appreciate their content.
The post Chingari Users Earn More Than $300K Rewards In First Week Of GARI Mining appeared first on .
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