{"id":73811,"date":"2023-02-09T10:16:37","date_gmt":"2023-02-09T08:16:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73811"},"modified":"2025-09-09T16:23:43","modified_gmt":"2025-09-09T13:23:43","slug":"aptos-labs-backs-a-web3-rival-to-tiktok","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/aptos-labs-backs-a-web3-rival-to-tiktok\/","title":{"rendered":"Aptos Labs backs a Web3 rival to TikTok"},"content":{"rendered":"<p>Indian social network Chingari received investments from Aptos Labs to &#8220;strengthen its position in the global <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a> market&#8221;.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">For more details on the partnership, please refer\ud83d\udc47<a href=\"https:\/\/t.co\/Rn3CHkEd7s\">https:\/\/t.co\/Rn3CHkEd7s<\/a><\/p>\n<p>\u2014 Chingari, Leading Web3 Social Media\ud83d\udd25 (@Chingari_IN) <a href=\"https:\/\/twitter.com\/Chingari_IN\/status\/1623378948188155904?ref_src=twsrc%5Etfw\">February 8, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>The updated Aptos Network-based app will be launched in the second quarter of 2023, the developers stressed.<\/p>\n<\/blockquote>\n<p>According to them, the daily active users of a TikTok-like social network stands at five million.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Chingari is pursuing speed, security, and scalability of the Aptos network to support millions of its users and attract millions more in the future,&#8221; said Mo Sheikh, CEO and co-founder of Aptos Labs.<\/p>\n<\/blockquote>\n<p>Initially the social network started as a Web2 platform, but over time began to implement Web3 elements. The startup issued the GARI token on the Solana network to reward content creators and for on-chain voting, and then <a href=\"https:\/\/u1f987.com\/en\/news\/chingari-launches-annual-12m-native-token-distribution\">announced<\/a> an annual airdrop of crypto assets worth $12 million.<\/p>\n<p>According to Chingari representatives, moving to the Aptos blockchain &#8220;will give creators ownership of their own content and receive corresponding rewards.&#8221;<\/p>\n<p>According to <a href=\"https:\/\/www.crunchbase.com\/organization\/chingari\/company_financials\">Crunchbase<\/a>, after 10 funding rounds the startup has raised $88.4 million. Investors include Kraken, Republic Crypto and Galaxy Digital. <\/p>\n<p>CEO and co-founder Sumit Gosh <a href=\"https:\/\/www.forbesindia.com\/article\/cryptocurrency\/chingari-ramps-up-hiring-amid-recession-fears-as-indian-web3based-social-media-space-gathers-steam\/82529\/1\">emphasised<\/a> that the company will increase its staffing while many other Web3 platforms are forced to cut staff.<\/p>\n<p>In the wake of the news of the GARI token integration, it rose by <a href=\"https:\/\/www.coingecko.com\/en\/coins\/gari-network\" title=\"more than 25%\">more than 25%<\/a>.<\/p>\n<p>Earlier, the team <a href=\"https:\/\/u1f987.com\/en\/news\/aave-team-develops-protocol-for-web-3-0-social-networks\">Aave introduced Lens Protocol<\/a>, designed to simplify the creation of Web3 social platforms. In October the protocol <a href=\"https:\/\/u1f987.com\/en\/news\/lens-protocol-resumes-service-after-outage\">resumed operation<\/a> after an outage. <\/p>\n<p>Recently <a href=\"https:\/\/u1f987.com\/en\/news\/damus-social-network-announces-sats-payouts-scammers-seek-to-profit\">the decentralized social network Damus began operating<\/a> and announced payouts in satoshis. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chingari social network received investments from Aptos Labs to \u201cstrengthen its position in the global {{AOPEN_1}}Web3{{ACLOSE_1}} market.\u201d<\/p>\n","protected":false},"author":1,"featured_media":73812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1393,465],"class_list":["post-73811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aptos-apt","tag-social-media"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=73811"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73811\/revisions"}],"predecessor-version":[{"id":73813,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73811\/revisions\/73813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73812"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}