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Today, we look at the Gari Network (GARI), the creators of Chingari, India’s fastest-growing short-form video app, with millions of daily users. The app lets users create and share short-form videos with the world. The Gari Network aims to build a crypto-powered creator economy on Chingari, and every time you create a video on Chingari, you get rewarded with gari tokens. GARI is a social token for the community of Chingari creators which will give them governance authority over the future platform developments through a decentralized autonomous organization (DAO) and create a circular economy. Being distributed to the contributors for the platform value they created, GARI on the other hand benefits from the value of the network itself.
Gari launched on the KuCoin Exchange, on January 18th, 2022. Their roadmap for 2022 is very exciting, from listing their token on various exchanges, to stacking, mining and even an NFT drop.
Gari’s price launched at around $0.65, but dropped with the rest of the market to around $0.25 on January 25th, 2022. That dip was “short-lived”, and the price has recovered nicely in the first three weeks of February, back to when it launched at around $0.65. What is interesting on the 8-hour chart is that a “Cup & Handle formation” is playing out, and if it breaks out, we should see some massive upside in the next couple of weeks. Beyond the $0.70 level will mean that GARI will be entering “price discovery”, and who knows where price can go from there!
As there are a lot of video projects currently moving over to blockchain technology, we expect the Gari Network to do very well in 2022.