The craze of NFT is growing day by day and is not going to stop any sooner.
NFTs worth $10.7 billion dollars were sold in the 3rd quarter of 2021, making an eightfold increase from the previous quarter.
Popular NFTs
NFTs(Non-Fungible Tokens) are digital assets that represent ownership of unique assets which can be an image, music, video, or even real estate. Few of the NFTs that made news include a painting sold by artist Beeple for $69Million dollars, Jack Dorsey’s first tweet sold for $2.9 Million dollars, Crypto punks sold for $16 Million dollars, and many more. If you are still confused about what NFTs are, check this out.
NFTs in India
After creating a huge buzz across the globe, now Indian creators and celebs are venturing into the NFT space. Cricketers, Bollywood Celebs, Fashion designers everyone is launching their own NFT collection and bringing them into the Mainstream.
Megastar Amitabh Bachan announced his NFT collection which will include autographed posters of his movies. It is due to be released in November.
Salman Khan also announced his collection of NFTs and launched a cryptocurrency “Bollycoin” as well. Within days of launch, 8million “Bollycoins” have been sold so far which could be used to purchase NFTs and other utilities.
Sunny Leone also announced her NFT collected to be launched soon and is creating her own Metaverse.
Fashion designer Manish Malhotra also sold his clothing designs as NFTs.
Cricketers are also not behind in this. Rishab Pant, Zaheer Khan and Dinesh Karthik are selling their career’s iconic moments whether they are match-winning sixes or wickets as NFTs. These are listed for the base price as high as 5 Ether equivalent to $21,000 dollars.
It is not only limited to superstars now. Pop artist like Ritviz and others are also selling their music as NFTs. WazirX launched the NFT marketplace in India and allowed anyone to mint and sell their NFTs. It has more than 500 artists listed selling their NFTs.
Future
With the entry of Indian Celebs in the NFT space, it will further help to bring crypto into the mainstream. But currently, NFTs are generally perceived as a digital collectible by the masses. But this is not true, they have much more to offer. They can be used to represent any asset that is unique and needs proof of ownership. This is just the beginning, one day you won’t be surprised to purchase real estate and have its NFT as proof of ownership.
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