Chingari’s crypto token raises $40mn within 24 hours of its live sale

Short video app Chingari on Thursday announced that its first-ever crypto token ‘GARI’ raised $40 million within 24 hours of its live sale on Republic platform.

Republic is a crowd-equity platform that offers investments in startups, real estate, gaming and crypto.

“GARI has been designed to empower the creator community with content monetisation opportunities. The token is built on Solana – one of the biggest & rapidly growing blockchains globally,” the company said in a statement.

Recently, the firm completed a funding round of over $19 million from more than 30 venture funds and individual investors.