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Aptos Labs Makes Investment in TikTok’s Web3 Competitor Chingari

ByLouis Adams

Feb 9, 2023
Reading time: < 1 minute

Indian social network Chingari, which is somehow considered as a competitor of TikTok, has received investment from Aptos Labs to “strengthen its position in the global Web3 market.”

According to the developers of the project:

“The updated application based on Aptos Network will be launched in the second quarter of 2023.”

The number of daily active users of the social network is 5 million.

Mo Shaikh, CEO and co-founder of Aptos Labs, has commented on the investment:

“Chingari is committed to the speed, security and scalability of the Aptos network to support millions of its users and attract millions more in the future.”

The social network was a Web2 platform, but over time it began to introduce Web3 elements.