Salman Khan forays into cryptocurrency, set to roll out NFTs on BollyCoin

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.

https://twitter.com/BeingSalmanKhan/status/1448181752455856130

According to Times of India , a white paper filed by BollyCoin.com says that the digital collectibles will be auctioned on Ethereum blockchain, enabling fans from around the world to own NFTs of their favourite stars.

NFTs are unique digital-native tokens, which are used for ownership of digital goods such as videos, texts, images or songs. The trading and ownership of NFTs can be tracked through public blockchains, which bring in authenticity to the process. The process can help artists sell a digital item once and earn commission from its later sales.

No further details were provided by Khan. The Dabangg actor is the latest to join in on the NFT bandwagon. Earlier, actor Amitabh Bachchan became the first Bollywood actor to join the craze for NFTs. The Piku actor’s NFTs will be hosted on a platform called BeyondLife.Club in November this year and include poems narrated by him, as well as an autographed poster of Sholay.

Sunny Leone will also soon roll out her own NFTs, which will be available at sunnyleonenft.com as a collection of personally curated artworks. According to media reports , the Jism 2 actor will be partnering with Mintdropz, a Silicon Valley-based startup, for the digital collectibles, which will “live on the Ethereum blockchain”.

According to a report in the Mint, cricketers too have shown an interest in NFTs. Digital collectibles platform Rario announced that it had partnered with former Indian bowler Zaheer Khan and South African batsman Faf du Plessis in August.

Furthermore, Singapore-based blockchain platform Cricket Foundation also announced an NFT platform dedicated to cricket in September, which uses the platform of home-grown blockchain firm Zebi to run its marketplace. The platform is being backed by cricketers such as VVS Laxman, Wasim Akram, Parthiv Patel, RP Singh, Pragyan Ojha and others.

The craze for NFTs among cricketers and film stars is centred around the idea of increasing fan engagement. The bidding process on NFTs alone could drive up an actor’s engagement with fans and increase publicity about their works.

International celebrities such as Ellen Degeneres, Lindsay Lohan and Paris Hilton have already joined the NFT bandwagon.