By Tayler – Bitcoin Specialist - 29/12/2021
This digital asset notion has grown across India in response to its heightened interest from retail participants seeking to begin investing in cryptocurrency. As digitalisation and trusted Bitcoin companies grew, people in India and throughout the world became more aware of NFTs, and the craze caught on in a matter of months.
CEO Abhayanand Singh unveiled Kamal Haasan's NFT collection on Fantico, describing an NFT as "a digital asset that duplicates real-world objects like art, music, in-game commodities and movies. The simplest way to comprehend NFTs is to think of them as digital collectibles. These are one-of-a-kind or limited-edition goods. Assets with a long-term value increase that may not correlate to other investment markets may be good investments at times." This statement reflects India’s popularity in buying altcoins and the wider DeFi and GameFi industries.
It wasn't until 2021 that Indians were ready to buy Bitcoin online after seeing their favorite celebrities launch digital collections. This was done because most people recognised NFTs as having a lot of promise in the market and wanted to own a few unique tokens linked with some of the country's most famous figures. Celebrities from various walks of life have launched or announced their digital tokens in 2021, ranging from Amitabh Bachchan to Salman Khan to Kamal Haasan to Yuvraj Singh to Rohit Sharma to Manish Malhotra.
What makes celebrities so ready to reveal their NFTs, though? Singh claims "The NFT fever has taken over the film business and social media." Aside from the monetary benefits, the draw for movie stars is that it gives them a new way to communicate with their fans. With the help of NFTs, celebrities are reinvesting their fans through digital transformation." Crypto buying sites using celebrity endorsements is also becoming an increasingly mainstream strategy.