Bollywood actor Salman Khan has revealed that he is soon going to roll out his own Non-Fungible Tokens (NFTs). The announcement said that the static NFTs would be available at BollyCoin, which describes itself as the NFT marketplace for Bollywood assets. For Salman, NFTs can be a profitable venture as he paints, has his money tied up in various TV and film production ventures, is associated directly with the Being Human chain and owing to his Bollywood celebrity status, his digital assets will be of immense value to his fans and enthusiasts.
Salman will be launching his static NFTs on this platform later in December. BollyCoin will be auctioning off the digital collectibles from the Bollywood Industry through their platform, which they describe as an “innovative way for Bollywood enthusiasts” from around the world to own NFTs of their favourite Bollywood films and celebrities.
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Interestingly, BollyCoin is co-founded by Salman’s brother-in-law Atul Agnihotri. It will allow movie connoisseurs to invest in clips and stills from films, iconic dialogues, posters, unseen footage, and social media content and merchandise from celebrities.
If this sounds a bit confusing, here’s a lowdown on NFTs, their use and how to make from them.
What are NFTs?
NFTs or Non-Fungible Tokens are digital assets that are stored on a blockchain. This can be anything - an image, a video, a graphic, an icon, even a single pixel or piece of text, or a tweet for that matter. The non-fungible in Non-Fungible Tokens means that the item is unique and one of its kind. For example, a smartphone that you own is a fungible item since it can be replaced with the exact same one, in case its sold or goes away from you. This makes the smartphone a fungible item. But, on the other hand, something like a Kohinoor diamond is non-fungible, because there’s only one of them and not every diamond is a Kohinoor diamond. So every non-fungible token is unique and one-of-its kind. NFTs can really be anything digital like a gif, a video, a photo, anything.
Big B has also invested in NFTs
Salman is not the first Bollywood actor to step into the NFT market. Last month, actor Amitabh Bachchan converted artworks like - verses from his poet father Harivansh Rai Bachchan’s iconic work Madhushala narrated by him, backstories related to his own works, and autographed posters of his movies and other rare elements into digital artwork. Bachchan’s NFTs were launched under the aegis of BeyondLife.club, a conglomeration of Rhiti Entertainment, and GuardianLink.io, a no-code NFT exchange platform. NFT and Bollywood enthusiasts also have the option of buying the tokens through debit and credit cards, besides the conventional payment method that uses cryptocurrency to own NFTs.
Sunny Leone will also soon roll out her own NFTs, which will be available at sunnyleonenft.com as a collection of personally curated artworks.