With the growing popularity of non-fungible tokens (NFTs), which are essentially blockchain-certified copies of digital art– Indian celebrities, including Bollywood stars and cricketers, are increasingly embracing this digital asset class. Salman Khan is the latest star to launch his own NFTs or static NFT. He joins his Bollywood colleagues, Sunny Leone and Amitabh Bachchan. Sunny Leone was the first actress to invest in digital assets, followed by superstar Amitabh Bachchan, who recently showed interest in NFT.
“Aa raha hoon main, NFTs leke. Salman Khan Static NFTs coming on @bollycoin. Stay tuned, bhai log!” Salman tweeted.
— Salman Khan (@BeingSalmanKhan) October 13, 2021
In September, Amitabh Bachchan introduced his own NFTs (Non-fungible tokens) that would comprise one-of-a-kind and limited-edition artworks inspired by Amitabh Bachchan and his life. The NFTs will also contain the megastar’s recital of poems from Madhushala, his father Harivansh Rai Bachchan’s acclaimed collection of poems and anecdotes from his illustrious career.
NFTs or Non-Fungible Tokens represent the rights to a digital work of art or other material, and some believe they will eventually outnumber bitcoin in popularity.
In the digital world, NFTs are “one-of-a-kind” assets that may be purchased and sold like any other piece of property, but have no physical form of their own.
The digital tokens might be compared to ownership certificates for virtual or actual assets.
Artwork can be “tokenised” with NFTs to generate a digital certificate of ownership that can be purchased and sold.
NFTs can also include smart contracts that, for example, offer the artist a percentage of any future token sales.
A blockchain is used to store NFTs. The blockchain gives digital assets a distinct identity, making them non-transferable. Paintings, games, music albums, collectible sports cards, and memes are examples of real-world commodities that can be transformed into NFTs. NFTs can be used to represent images, films, audio files, and other sorts of digital information.
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