Chingari, a renowned platform for short videos and live streaming, has ventured into the realm of Web3 gaming by introducing the Chingari Game Zone, powered by the Aptos blockchain. The platform’s strategic move aims to amalgamate its proficiency in social media, entertainment, and blockchain technology to deliver captivating gaming experiences to its user base, as per Inc42’s report.
According to Daijiworld, the newly unveiled Chingari Game Zone will showcase a handpicked array of popular mobile games, commencing with the beloved classic, Ludo, presented in a voice communication-based Web3 format. Users engaging with the Game Zone stand to earn Gari tokens, thereby enhancing their gaming encounters while leveraging the transformative potential of blockchain technology.
Sumit Ghosh, the Co-founder and CEO of Chingari, delineated the company’s vision, emphasizing the aspiration to craft an immersive gaming milieu that harnesses the advantages of blockchain technology. Ghosh asserted that Chingari’s multidimensional expertise positions it as a pivotal player in the gaming landscape, poised to redefine standards and elevate user experiences globally.
Established in 2018 by Sumit Ghosh, Aditya Kothari, Biswatma Nayak, and Deepak Salvi, Chingari initially gained traction as an on-chain social application, facilitating video uploads, social interactions, and content sharing. Notably, Aditya Kothari, one of the co-founders, parted ways with the company last year, marking a transitional phase in its journey.
This strategic foray into the Web3 gaming arena signifies a significant pivot for Chingari, arriving approximately a year after purportedly exploring NSFW content. Despite encountering hurdles, including substantial workforce reductions affecting over 50% of its employees, Chingari has exhibited signs of financial recovery. Notably, the company reported a substantial reduction in net loss, amounting to 69.5% at INR 42.5 Cr in FY23, attributed to bolstered revenue streams and optimized advertising expenditures.
Looking ahead, Chingari is gearing up to unveil additional gaming offerings by the next quarter of 2024, with the objective of diversifying its Web3 gaming portfolio to cater to a broader spectrum of users. This strategic expansion underscores Chingari’s commitment to innovation and its relentless pursuit of redefining the digital entertainment landscape.
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