Salman Khan has joined the NFT bandwagon after missing out on the bandwagon of the NFT phenomenon last week when Bollywood superstar Amitabh Bachchan announced his decision to launch the non-fungible token collection.
“Aa raha hoon main, NFTs leke,” says the narrator. “Static NFTs are now available on bollycoin.com,” Salman Khan tweeted. The actor announced the launch of his own collection of NFTs on Twitter, which will be available on BollyCoin.
NFTs have piqued the interest of Bollywood superstars, according to Sharat Chandra, a blockchain and emerging tech evangelist.
The ball has been kicked off by Amitabh Bachchan and Salman Khan. More mainstream Bollywood artists and creators are expected to follow their lead in utilizing blockchain technology to improve fan engagement, in addition to fan tokens, digital collectibles, and avatars.
To start with, NFTs are crypto assets that are one-of-a-kind, verifiable, and digital certificates of ownership. They’re a way to prove that you own a piece of what’s known as the blockchain as a whole. These tokens can be used to establish the worth and scarcity of various digital assets and goods. They can represent and provide digital acceptance for anything, from virtual games to artwork.
When NFTs are purchased on the marketplace, BollyCoin holders will receive 10% of the sale price in BollyCredits, which will be valid when the platform launches.
Bollycoin aims to be the world’s largest Bollywood NFT marketplace, with board members including Atul Agnihotri, Armand Poonawala, Kyle Lopez, Aaliya Kanuga, Karamvir Sachdev, and Sujith Somraj, as well as Arbaaz Khan Productions, Salman Khan Films, Sohail Khan Productions, and Reel Life Productions to name a few. Viewers can buy movie clips and stills, iconic dialogue, posters, never-before-seen footage, and merchandise from celebrities via social media.
BollyCoin provides a simple and secure way for Bollywood and cryptocurrency fans to join our ecosystem. In a private round, the platform sold 20 million tokens for $0.1 each.
Salman launching his NFT collection is good news, according to Hitesh Malviya, the founder of itsblockchain.com, because more celebrities and entertainment studios will soon follow. More Bollywood stars are expected to join the fray in the coming year. Many Indian investors, he believes, are unaware of the risks associated with NFTs.
“NFTs are simple to set up, illiquid, and difficult to understand for retail investors.”
We’re far slower at identifying scams than scammers, who are constantly coming up with new ways to defraud unsuspecting investors.