NEW DELHI: In the last one year or so, NFTs (non-fungible tokens) have become quite the rage. From artworks, memes to tweets — billions of dollars have been raked in NFT sales. Joining the NFT club is none other than Bollywood actor Sunny Leone. According to multiple online reports, Leone will have her NFTs available on her website. She was quoted as saying that “crypto is the future of the world and NFTs give me an opportunity to express myself with art and be able to essentially make each NFT its own unique token which is really exciting.”
What is NFT?
If you are wondering what is NFT then here’s a brief explainer. NFT is a digital form of assets like art, music, video games. NFTs can be bought and sold digitally, mostly with cryptocurrency and they are further encoded with the same program as several forms of cryptos. When an NFT is sold then the creator — in this case, Leone — gets a certain amount in the form of cryptocurrency. Further every time, an NFT is sold, the creator gets some commission.
Are NFTs becoming popular in India?
Before Leone rolled out her NFT plan, it was Amitabh Bachchan who had announced a similar idea. Bachchan’s NFT plan is expected to be rolled out in November but Leone has reportedly become the first Bollywood celebrity to have her own NFT. In June 2021, Mumbai-based crypto startup WazirX rolled out an NFT marketplace. About 15 creators — canvas artists, digital artists among others — will use the platform to sell their NFTs.
Meanwhile, Leone has created a website for her NFTs and she would be partnering with Mintdropz, a Silicon Valley-based startup. On the website, it is mentioned that “The Sunny Leone NFT Metaverse is a collection of NFT’s – unique digital collectibles that will live on the Ethereum blockchain. Your Sunny Leone NFT is your membership access pass to the Exclusive content, Perks, and Access in Sunny Leone Metaverse.” Further, it says “Your Sunny Leone NFT Gives You Access to special NFT Membership perks like Unlockable Content, Access to Private Discord Channels, and Early Access to Future Drops.”
It remains to be seen what NFTs, Leone will roll out but clearly she has taken the first-mover advantage in the space.