Web3, also known as Web 3.0, is the next generation of the Internet, using blockchain technology to enable decentralized applications and smart contracts.

Web3 provides opportunities for startups to create new business models and generate revenue through decentralized finance (DeFi) and non-fungible tokens (NFTs). Startups can also build and launch their decentralized applications on existing blockchain platforms such as Ethereum and Solana.

Chingari powered by GARI is a successful case study of an Indian startup that became a global brand in just two years by implementing Web3 intelligence and revolutionizing the creator economy.

Chingari embraced Web3 at a time when large social media companies were still figuring out how to transition their platforms and ecosystems to a blockchain-based, decentralized business model that enables user monetization.

Chingari has been using Web3 to his advantage for a considerable amount of time. The introduction of GARI (native social token) not only helped the platform enable monetization for creators, but also gave the app an edge over its competitors, allowing them to build a strong network of loyal GARI and Chingari users who have been able to earn GARI tokens through the GARI mining program.

The platform also launched Creators Cut, a video NFT marketplace that allows creators to mint and sell their own NFTs, while users can bid and buy vNFTs, bet on creators and receive up to 10% of future creator earnings. . This provided them with a new revenue stream while also giving the platform a first-mover advantage in the video NFT space.

Many Web2 companies, such as Chingari, are now actively working to migrate to the Web3 ecosystem and explore the new opportunities available. Lately, social media giants like Instagram, Reddit, and Twitter have also integrated NFTs into their platforms.

The Web3 space is still in its infancy, but it has the potential to transform the way we interact and do business online. It is a growing industry and many startups are exploring new and innovative ways to use blockchain technology to create decentralized solutions that can benefit both individuals and organizations.

With the battle-tested GARI Web3 Stack, any web2 application can quickly transition to Web3, harness the power of the Chingari user base, and be part of the web3 revolution.

For more information, visit: https://business.gari.network

Web3 India is the future of India’s digital transformation! It’s time to move to a more transparent and secure digital India!