All About Aptos Investment In Chingari

February 10, 2023 Story: Divya Sinha

As per the reports, Aptos Labs has made an equity investment in the Indian short video app Chingari.

[{"selector":"#anim-d85315d5-df07-48ab-97b0-160bbbc14b32","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-83274b41-af48-4033-ad42-197b51a54dd7","keyframes":{"transform":["translate3d(-90.89109%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

This equity investment is to grow its user base, develop new products and focus on global expansion.

[{"selector":"#anim-e7ff234e-172f-4067-8fb7-97a0a3d91442","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-20f8bc39-a29c-4ae4-b888-01c98b226923","keyframes":{"transform":["translate3d(-94.25051%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

By the second quarter of 2023, the social media app Chingari will migrate to the Aptos Network.

[{"selector":"#anim-f09a608e-7979-428f-bb0b-1bba062aa54b","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-955ea0d1-6e94-489f-9c9f-07d9aa0b9875","keyframes":{"transform":["translate3d(-93.85246%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

This adoption aims for Chingari to manage decentralized transactions and other Web3 features with greater ease.

[{"selector":"#anim-ac5cfa6a-2dd0-4ec4-9683-417c2e442b34","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-69125cfd-be65-4f61-9bd0-345196c7ca3b","keyframes":{"transform":["translate3d(-92.0082%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

As per the blog post, Chingari has more than 2.2M on-chain users.

[{"selector":"#anim-8f10e777-646b-4a29-9250-b603a9eb527f","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-317ea1c3-a3fc-4354-ad9f-34a0aaba11fd","keyframes":{"transform":["translate3d(-95.56541%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Chingari CEO Sumit Ghosh said that the partnership will pave the way for a strong foundation & case study in the Indian web3 ecosystem.

[{"selector":"#anim-66f160e1-a07a-41c8-88a3-eef0fff8bf96","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-76192582-9e22-4db7-9904-a13bd5ccfbf9","keyframes":{"transform":["translate3d(-93.85246%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

At press time, Chingari’s token GARI is currently trading at $0.06486 and is down by 9.02% in 24hrs.

[{"selector":"#anim-1c5f40ec-4d86-472d-b39f-cefbb6ba6a93","keyframes":{"transform":["translate3d(-410.52638%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-7e9004f2-26fc-4c8e-b1e1-58fae150601d","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] More Crypto Stories...