Asia- as a continent has seen a rapid implementation and spontaneous introduction of digitalization by countries in its region. And there has been a consistent surge in the use of crypto and NFTs in major countries on this continent which in return has helped in regaining economical balance after the long-overdue pandemic. In these regions and countries, Cryptocurrency has moved from being an unknown concept to being accepted and adopted to aid, support and develop their economy.
With an estimated population of 1.39 billion, India was ranked 2nd in the Global Crypto Adoption Index in 2021. This goes to show the country’s interest in the continual use and adoption of cryptocurrency and NFTs in its various sectors. With the interest in NFTs and crypto, India’s entertainment industry takes on spearheading and promoting the adoption of these NFTs and crypto in the country.
Non-fungible tokens (NFTs) have risen to prominence in the cryptocurrency ecosystem, accounting for the majority of revenue earned. NFTs have given crypto a whole new dimension, transforming it into a money-making sector. It has become the new draw, attracting new participants in the crypto revolution.
India’s First Superstar NFT Collection
Amitabh Bachchan was the first Indian star to roll out an NFT collection. A partnership between Talent management company Rhiti Sports and decentralised NFT exchange platform GuardianLink.io led to the birthing of NFT collections in India. His NFTs are sold to collectors in India using Indian currency through digital payments and credit cards, complying with local laws, while allowing overseas buyers to transact using virtual currencies such as Bitcoin or Ethereum.
Gracefully, India’s legends are making their way into the Crypto space and are creating value for their arts, crafts and assets. Typically, Indian artists when compared to global artists, have only now started participating in NFTs, with the digital asset space so far being limited to crypto millennials and tech-savvy audiences.
Indian Legend Suman Chellani
Next is India’s Suman Chellani who’s the Winner of Miss India Intercontinental 2018. Suman Chellani became the latest celebrity to show interest in NFTs and recently launched her NFTs on the popular NFT marketplace, OpenSea. The famous model and actress are one of the many stars from India to launch NFTs in recent weeks as the country continues to be one of the most fertile grounds for cryptocurrency.
Chellani is widely known in her country as a popular show host and anchor and has thousands of credits to her name, as well as other successful ventures. Her foray into the world of NFTs shows her ambition and determination to spread the adoption of cryptocurrency in her country.
Kher and His NFT Collections
India’s prolific public figure Kher launches a One of a Kind NFT on OpenSea. It is said that Kher’s NFT embodies his spirit and history as a Bollywood icon, but it’s also one of the first efforts by a Bollywood vocalist of his calibre, and it contains a strong message of hope and resilience.
Kher’s NFT will undoubtedly prove to be a game-changer in the popularity of both cryptocurrency and NFTs in his country. Collectors may proudly possess a piece of Kher, who is unquestionably one of Asia’s most beloved thanks to his refreshing NFT.
It is quite important to note that since the crypto market gathered momentum in India, NFTs have been gaining traction amongst the millennials and Gen Z and that NFT marketplaces are a great platform for artists to monetise their work.
Diva Sunny Leone and Her NFT Collection
India’s popular Diva Actress and Celebrity Sunny Leone was Bollywood’s first female actress to launch her own NFT collections of unique, hand-animated art.
This step positioned her to be a part of the ranks of International celebrities like Ellen Degeneres, Paris Hilton, Lindsay Lohan, who have previously ventured into NFT, and take the lead amongst Indian actors to gravitate towards digital assets.
India’s NFT Collection on OpenSea
Several NFT collections by popular Indian Celebrities are found in the OpenSea platform. This marketplace has helped showcase several of these NFTs and crypto collectibles to a large number of collectors across the globe. It has aided easier buying, selling and discovery of exclusive digital assets to collectors all over the world.
NFTs have seen a rise and one can only expect more upward soar in its continuous use case in India and across the globe. With a very large population, India has a greater advantage in utilizing the massive benefits of NFTs and cryptocurrency in its economy building.