Bollywood superstar Salman Khan has announced his plans to enter the non fungible tokens (NFT) space, following in the footsteps of the legendary Bollywood actor Amitabh Bachchan, hinting that the hottest cryptocurrency trend of the year is establishing its roots in India.
What Happened: Salman Khan announced on Twitter that he would be launching static NFTs on BollyCoin, which aims to be “the world’s largest Bollywood NFT marketplace.”
— Salman Khan (@BeingSalmanKhan) October 13, 2021
BollyCoin says on its website that Khan would be launching his static NFTs on its platform in December.
BollyCoin said it would auction digital collectibles from the Bollywood industry through its platform on the Ethereum (CRYPTO: ETH) blockchain, enabling the industry’s over one billion fans around the world to own NFTs of their favorite Bollywood films and celebrities.
See Also: How To Buy Ethereum (ETH)
Why It Matters: NFTs, blockchain-based tokenization of collectible items or art pieces, allow users to own digital assets like retail estate, art, digital sneakers, and video moments.
Khan’s announcement highlights the recent efforts by Indian celebrities to capitalize on the international trend of NFTs.
Amitabh Bachchan became the first Bollywood star to foray into NFTs when he said in September that he would launch his own NFT collection through Beyondlife.club, a conglomeration of Rhiti Entertainment and a no-code NFT exchange platform GuradianLink.io.
Sales volumes of NFTs surged more than eightfold quarter-over-quarter to $10.7 billion in the third quarter, according to a report by Reuters, citing data from market tracker DappRadar.
Price Action: Ethereum is up almost 4% during the last 24 hours, trading at $3642.29 at press time.
Photo: Courtesy of Bollywood Hangama via Wikimedia