Many Bollywood actors started cultivating cryptocurrencies and started NFT
Cryptocurrencies have not only fueled the idea that the average Indian sees the index gradually rising from anywhere in the country, but they have also made their way to Bollywood’s top lists in the financial hub of Mumbai. Yes. And this movie star is more interested in more than cryptocurrencies.
Some have launched their own irreplaceable token (NFT) while others are planning to open up emerging markets. These two crypto exchanges that make it easy to trade digital assets were recently joined by actors Amitabh Bachchan and Ranvir Singh, adding weight to the industry.
CoinDCX announced last month that it had selected Amitabh Bachchan as its first brand ambassador to help spread awareness about cryptocurrencies. CoinSwitch Kuber said he chose Gully Boy actor Ranvier Singh.
These stars give weight and credence to a burgeoning industry, but have they themselves invested in cryptocurrencies?
Neither of these two countries has so far explicitly mentioned their own investments in cryptocurrencies. Even if they do invest, they haven’t made it publicly available. Bollywood stars revealing their crypto investments will go a long way in building public trust in the assets they return for the exact same purpose.
Amitabh Bachchan launched NFT merchandise earlier this year. This includes his own vintage autograph poster, a reading of his father’s famous poem. Madushala and other objects related to his identity, works and stars.
A few days ago, his collection of digital NFT series sold for $9,666,000 at auction. The call starts on November 1st and ends on November 4th in Diwali.
Bollywood fashion designer Manish Malhotra has also entered the NFT world. In October we announced five NFTs for fashion. Sketches and GIF images of five fashion pieces worn by models and actresses such as Lisa Ray, Deepika Padukone, Karina Kapoor Khan and Alia Bhat.
This growing acceptance and approval is in contrast to what the Reserve Bank of India (RBI) and other government sectors have said about the cryptocurrency industry. They warn of extreme instability and avoid being associated with cryptocurrencies.
Instead, RBI is researching basic blockchain technology and has repeatedly stated that it could bring its own cryptocurrency to market with support from the federal government.