Bollywood Star Salman Khan To Launch NFTs With BollyCoin, Follows Amitabh Bachchan

KEY POINTS

Salman Khan has collaborated with BollyCoin to launch his NFT collection
Bollywood megastar Amitabh Bachchan launched his NFTs in August
The digital collectibles from the Bollywood industry will be auctioned on the Ethereum blockchain

Indian actor and Bollywood A-lister Salman Khan has revealed that he will soon be launching his own non-fungible tokens (NFTs). Khan said static NFTs will be available on BollyCoin.

The actor told his 43 million Twitter followers to "stay tuned" for more updates on the static NFTs. The digital collectibles will be auctioned off on the Ethereum blockchain, allowing fans worldwide to own non-fungible tokens of their favorite star.

Salman Khan will launch his NFTs in partnership with BollyCoin in December, he said on Twitter. "Aa raha hoon main, NFTs leke. Salman Khan's static NFTs arrive on bollycoin," he tweeted in Hindi, which translates to he is coming with the NFTs.

NFTs are digital assets backed by blockchain technology. They can be used for online sale and purchase, with a digital proof of ownership of all items included. In June 2021, WazirX, the cryptocurrency exchange owned by Binance, launched the NFT Marketplace for artists, creators, and collectors in India and abroad to create and trade digital assets representing art, music, videos, collectibles, game items, among others.

Bollywood megastar Amitabh Bachchan announced the launch of his NFT collection through Beyondlife.club in August, in line with how celebrities such as Snoop Dogg and Paris Hilton have used NFTs to publish their works.

According to BollyCoin's website, digital collectibles from the Bollywood industry will be auctioned through its platform. "We aim to be the largest Bollywood NFT market in the world, partnering with the industry's biggest producers and celebrities to create iconic and exclusive NFTs," it said in a press release. BollyCoin added that Elon Musk's partner Grimes created an NFT collection of her work with the first auction for a coin that sold for $ 5.8 million in just 20 minutes. It also added that whenever an NFT is sold on its marketplace, BollyCoin holders are rewarded in the form of BollyCredits, which can be used to purchase NFTs on their platform.