What is NFT (Non-Fungible Tokens): The name of NFTs has been very much discussed in the market for some time now. From sportspersons to many Bollywood celebrities, everyone is launching NFTs, i.e. Non-Fungible Tokens.
Apart from this, some are still preparing to launch them. Because whether it is an ordinary man or a Bollywood celebrity, everyone thinks about earning some extra. In such a situation, now the interest of people towards this digital asset is increasing.
A non-fungible token is a type of digital asset or data, and it is recorded on the blockchain. NFT is a digital token in which you can monetize images, games, videos, tweets by converting them to NFTs.
The first megastar Amitabh Bachchan had informed people about NFT. At the same time, recently, Bollywood superstar Salman Khan has also announced the launch of the NFT collection named BollyCoin. First of all, we will tell you what NFT, whose popularity is increasing a lot these days, is.
What is NFT (Non-Fungible Tokens)?
NFTs, i.e. Non-Fungible Tokens, are a type of digital asset or data, and it is recorded on the blockchain. NFT is a type of digital token. In this, you can monetize images, games, videos, tweets by converting anyone to NFT. The unique thing in this is that these digital assets are bought and sold through cryptocurrencies only. The non-fungible token is unique, as it has a unique ID code, so two NFTs can never match each other. Also, they cannot be made duplicates.
Notably, most NFTs are created on Ethereum, and they can be sold and bought just like any other asset. If you also want, you can make and sell NFT yourself. Along with this, you can earn its royalty. It does not require any middlemen.
This star will launch NFT.
Superstar Amitabh Bachchan is also preparing to launch NFT. Bachchan’s NFTs will include the autographed posters of his movies. Apart from this, Salman Khan has announced to bring his NFT collection in association with BollyCoin. Many people, including Atul Agrihotri (husband of Salman Khan’s sister) and Kyle Lopez, are also involved.
Not only Bollywood stars but also fashion designers and cricketers are not behind in this. Indian cricketer Dinesh Karthik is also doing a digital auction of a match. Under this, he had also given victory by hitting a six on the last ball. Let us tell you; its base price was kept at five ethereums. Ethereums is also a digital currency.
Success in the global market
NFTs, i.e. Non-Fungible Tokens, had sales of more than $ 1.2 billion in July 2021. At the same time, in the first half of 2021, the sales volume of non-fungible tokens was $ 2.5 billion. It is worth noting that in the quarter of September 2021, worldwide NFT sales have been around $ 10.7 billion.