Cryptocurrency exchange KuCoin has announced that it will be providing title sponsorship to the Chingari application during the Chingari App Creator Contest. The event will be held from February 15 to March 15, during which KuCoin undertakes to promote the venue and host trading of the native Chingari token – the GARI.
The Chingari App Creator Contest was launched to identify new talent among applicants from India and provide them with the necessary backing and promotion on the platform. All participants of the event stand a chance of winning native platform GARI tokens worth INR 2 Cr. Winners will receive the main prize consisting of INR 1 Crore powered by the GARI token and the crown title of Chingari Star.
The Chingari application is one of the largest social media platforms in India, growing to an audience reach of over 110 million since 2018, including approximately 32 million content creators. The monetization features embedded in the platform using the native GARI token give Chingari the necessary framework to host the Creator Contest and promote it among the rapidly growing decentralized market community.
“Chingari Star Contest is one of India’s biggest projects focused on the creators and creator’s economy in India. We are one of the first social companies in India that has been educating the users about the crypto/ Web3 revolution through GARI, giving them a chance to showcase their talents and earn at their best of potential. And we are glad to have the KuCoin team supporting us in this journey,” as Mr. Sumit Ghosh, the Co-founder and CEO of the Chingari App commented on the event and its sponsorship by KuCoin.
KuCoin will be providing assistance in the organization and promotion of the Chingari App Creator Contest. The attention of the exchange’s 10 million strong community and that of the decentralized market as a whole will allow Chingari App to attract new users and expand the scope of the event. KuCoin management is confident that the effort will advance awareness about digital assets and promote their adoption, while accelerating the transition from Web 2.0 to Web 3.0.
“The event is an exciting venue that not only encourages young talent to show itself and gain recognition but also gives the decentralized industry a chance of proving how convenient it is to earn rewards and cash them out,” as stated by Johnny Lyu, CEO of KuCoin.
The Chingari Star Contest gives all participants the chance of earning native platform GARI tokens for posting various videos on the Chingari App. The KuCoin exchange will be contributing to the promotion of creator activity on the platform by hosting a 40,000 GARI giveaway worth an equivalent of $20,000. Only KuCoin users from India, Pakistan, and Bangladesh P2P will be eligible for participating in the giveaway.
The winning creator of the Chingari Star contest will be announced at the end of March after a general vote. The participation of the KuCoin exchange in such a grand event is a major boost for the positioning of the platform and the popularization of digital assets as both event prizes and alternatives to fiat currencies.