Home » Salman Khan will launch his NFT: How does it work?

Salman Khan will launch his NFT: How does it work?

Salman Khan will launch his NFT
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Ground Report | New Delhi: Salman Khan will launch his NFT; Almost a week after Bollywood megastar Amitabh Bachchan launched NFT, Salman Khan has also decided to launch non-fungible tokens (NFT). The actor took to Twitter to announce the launch of his own NFT collection, which will be available on Bollycoin launched by Bollywood director and producer Atul Agnihotri. This is a new, dedicated, Bollywood-themed NFT platform.

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Salman Khan will launch his NFT

The actor took to micro-blogging site Twitter and said “Aa Raha hoon main, NFTs leke. Salman Khan Static NFTs coming on bollycoin. The Bollycoin platform aims to allow fans to invest in clips and stills from movies, iconic dialogues, posters, unseen footage, and social media content and merchandise from celebs.

Miner’s NFTs will be available on the NFT marketplace Bollycoin.com and can be purchased by Bollycoin with its native token, which will open for presale later this month. According to the website, the NFT platform will go live in December. The founding team of the marketplace includes Khan’s brother-in-law Atul Agnihotri.

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The marketplace has initially partnered with Arbaaz Khan Productions, Sohail Khan Productions, and Salman Khan Films. It also plans to partner with other celebrities and production houses.

What is Non-Fungible Token (NFT)?

According to a BBC report, in economics, fusible assets are units that can be easily converted – such as money. With paisa, you can replace Rs 5 note with Rs 10 note and it will have the same value.

However, if something is non-fungible, it will be impossible to do so. This means that this non-fungible asset has a unique quality, so it cannot be interchanged with anything else. This item can range from a house to a painting of Monalisa.

Most NFTs are part of the Etherian blockchain. Ethereum is a cryptocurrency, like Bitcoin or Dogecoin, but its blockchain also supports these NFTs.

  • NFT platform Rario launched a cricket-based digital collectibles platform in August and has partnered with former Indian cricketer Zaheer Khan.
  • Fashion designer Manish Malhotra also recently sold fashion-themed NFTs on the WazirX NFT marketplace. The platform said they were sold out within minutes.
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Reaction

Salman Khan’s fans are looking very happy with the announcement of launching NFT. Many people have reacted to this on Twitter.

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