Mumbai-October 24(Online): Indian celebrities from the world of Bollywood and cricket are increasingly launching digital memorabilia through non-fungible tokens (NFT), hoping to rake in thousands of dollars by cashing in on growing interest in such assets.
NFTs are a type of digital asset which use block chain to record the ownership of items such as images, videos and other collectibles. Their roaring popularity has baffled many but the explosive growth shows no sign of abating.
Bollywood superstars such as Amitabh Bachchan and Salman Khan are planning to launch NFTs soon. While Bachchan’s NFTs will include autographed posters of his movies, Khan has been building excitement on his Twitter account by telling his 43 million followers about the planned NFT launch.
“NFTs are right now alien to Bollywood but I am sure they (film stars) will see this as another platform where they can use their existing content and generate revenue,” said Ayaan Agnihotri of Bollycoin, an NFT marketplace for Bollywood assets.
“NFT has picked up a lot in the West in the last one year with now iconic moments from basketball being bought by fans digitally, which gave us the idea,” Karthik told media Vishakha Singh, vice president for NFTs at Indian crypto exchange WazirX, said celebrity participation in the segment is set to create excitement in the space.
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