Aa raha hoon main, NFTs leke: Salman Khan announces his crypto plans
After Amitabh Bachchan, the latest bollywood celebrity to join the bandwagon of Non-Fungible Tokens (NFT) is Salman Khan, who has announced that he will launch a collection for his fans soon. The actor in a tweet said “Aa raha hoon main, NFTs leke. Salman Khan Static NFTs coming on bollycoin.com.”
Salman has joined hands with BollyCoin for his NFT collections.
NFTs are unique crypto assets, a digital certificate of authenticity and credibility that you own something collectively known as the blockchain. Non-fungible tokens (NFTs) can be used for digital assets or goods that are different from each other to prove their worth and rarity. They can represent and provide digital acceptance to everything from virtual games to artworks etc.
According to a whitepaper released by BollyCoin, the digital collectables from the Bollywood industry will be auctioned on the Ethereum blockchain, for Bollywood enthusiasts from around the world to own NFTs of their favourite Bollywood films and celebrities.
Aa raha hoon main, NFTs leke. Salman Khan Static NFTs coming on @bollycoin. Stay tuned, bhai log! https://t.co/auNNbccZJX #BollyCoin #NFTs #ComingSoon pic.twitter.com/u8ZWUSwuq0
Salman Khan (@BeingSalmanKhan) October 13, 2021
“Towards the end of 2020, the crypto market began a new era with the explosion of the NFT market. Movie stars, famous artists, musicians, businessmen and investment funds have built a large portfolio of NFT tokens,” the company said.
BollyCoin aims to act as the bridge between the Bollywood industry and this new emerging marketplace. BollyCoin comprises of Atul Agnihotri, Armand Poonawala, Kyle Lopez among others.
The goal of introducing BollyCoin is to provide a convenient and secure mode for Bollywood and Crypto enthusiasts to become a part of our ecosystem. The platform is offering 20 million tokens following a private round at $0.1 a coin.
The white paper clarifies that Bollycoins are not intended to be a medium of exchange accepted by the public as payment for goods or services or for the discharge of debt. “The native digital utility token of this ecosystem, BollyCoin, represents a voting right in the community. It is likely to act as a governance token in non-corporate and non-regulatory matters,” it said.
Every time an NFT is sold on the marketplace, 10 per cent of the sale value of NFT will be credited to BollyCoin holders in the form of BollyCredits which can be used to purchase NFTs on the platform.
Hitesh Malviya, founder, itsblockchain.com said that it’s good news that Salman is launching the NFT collection, more celebs and entertainment studios will follow his lead.
However, he cautioned that Indian investors are not very educated about NFTs and the risk associated with them. “NFTs are easy to create, illiquid, and a bit hard to understand for retail investors. That can result in a big wave of NFT scams as well. Scammers execute faster than us, and they keep looking for emerging technologies to trap uneducated investors,” Hitesh Malviya warned.
