Following Amitabh Bachchan, Salman Khan is all set to join the bandwagon of Non-Fungible Tokens (NFT). He will launch NFTs (non-fungible tokens) in partnership with BollyCoin.
The actor tweeted "Aa raha hoon main, NFTs leke. Salman Khan Static NFTs coming on bollycoin.com." This came after Bollywood megastar Amitabh Bachchan announced to launch his own NFT collection through the NFT platform Beyondlife.club.
NFTs are digital assets fostered by blockchain technology. They can be used for sale and purchase online, with digital evidence of ownership of any items included. For the unversed, every NFT is unique and cannot be traded unlike cryptocurrencies, which are identical to each other, and can enable commercial transactions.
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.
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.
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