NFTs Popularity Soaring in India with Kailash Kher’s entry into space!
The world is digital today, and there is a cryptocurrency-led invasion of the world’s economic system globally. The cryptocurrency industry has become a hub for commercial activities after spending years in obscurity.
Since the turn of the year, there has been a viral spread in the awareness of what the crypto world is about, and different countries are making moves to join the industry and strengthen their economies. With the havoc wreaked by the pandemic, almost everyone is seeking a way out of the dark economic tunnel caused by the limited human interaction and reduced workforce, as witnessed in some countries. However, everyone has seen the crypto world as a quick door of escape.
The NFT Boom
Within the crypto world, there has been a new revolution going on and fast-tracking the adoption of cryptocurrency around the world. Non-fungible tokens(NFTs) have dominated not only the blockchain space but have grabbed the attention of the mainstream media.
The NFT movement has become a fast opportunity for both the rich and those from low-income families. In the last few months, NFT accounts for a huge percentage of the total revenue generated in the crypto world. The popularity of NFTshase exploded in the past few weeks following the addition of high-profile celebrities like Ja Rule, Kylian Mbappe, Lindsay Lohan, Snoop Dogg, Marc Cuban. Also, brands such as the NBA, Nike, Paris-Saint-Germain, Louis Vitton, Nike, and Formula 1 have joined the movement.
NFTs are cryptographic tokens that represent a unique asset on the blockchain. Unlike regular tokens, NFTs cannot be interchanged since they are assigned unique values. Although there are different kinds of NFTs, the art world has been the most popular so far and different artists are trooping in making the most out of their talent.
Also, read – 5 Upcoming NFT Games To Look Forward To
NFT is Growing in India
The Asian country, India has seen a rapid increase in the number of its citizens associated with NFTs. Indian NFTs are being championed by celebrities in the country and most artists in the country see it as a way to showcase their work and generate revenue from it.
Indie pop icon Ritviz and Santanu Hazarika, a visual artist, made about $391.80 from their collaboration which they did sell on the Indian crypto exchange WazirX’s the NFT marketplace in just a seconds after going live.
NFT by Kailash Kher
NFT by Kailash Kher has single-handedly increased the popularity of NFTs in India. The Indian playback singer and music composer launched his own NFTs and it increased the awareness of NFTs by a huge percentage. The average Indian is a fan of Kher whose music can be heard in movies like Baahubali: The Beginning” and “Fanaa.”
Kher is not a crypto guru or a tech wizard so the average person has this belief that NFTs are not a mystery island if Kher can get involved in it. Kher’s major reason for launching his NFT is to utilize the economic opportunity and potential for growth locked up in the market. The NFT by Kailash Kher was the first-ever NFT to be built in the Bollywood musical space and since then more celebrities have entered the space.
Celebrities like actor Sunny Leone and Amitabh Bachchan have indicated interest to make a move in the NFT market and join the revolution. It is widely expected that this popularity would increase in the coming days.