Amitabh Bachchan is the latest celebrity to enter the crypto-space. Bachchan, who is now the brand ambassador for the Indian crypto exchange CoinDCX, will work to raise awareness about cryptocurrency, the company said in a statement. But he is actively involved in cryptocurrency from the only major celebrity in India or around the world. This makes sense considering that India is one of the countries that is seeing rapid expansion of crypto space along with Vietnam, Pakistan and Ukraine.
Bachchan also enters the place of non-fungal tokens (NFTs). These are digital assets that represent ‘unique’ objects such as art, music, sporting goods and videos — they can be purchased using cryptocurrencies.
The veteran actor is expected to release his own NFTs featuring some unique and exclusive artwork surrounding his identity by November this year, media reports revealed recently.
Many foreign artists, including rapper Snoop Dogg and American TV presenter Steve Harvey, have already jumped into crypto-space, and the trend is catching on with Indian celebrities.
Actress Sunny Leone is also said to have invested in September, becoming the first Bollywood actress to do so.
In fact, the NFT trading platform Colexian has recently signed up with Indian artists including Sunil Shetty, Aamir Ali, Mika Singh and Sidhu Moosewala as part of its market.
The global crypto technology market is estimated to reach $ 2.3 billion (approximately Rs. 17,087 crore) by 2026, according to a recent report by Indian trade body Nasscom. For India, crypto technology is expected to reach $ 241 million (approximately Rs. 1,790 crore) by 2030.
Cryptocurrency is an unrestricted digital currency, not a legal tender and subject to market risks. The information provided in the article is not financial advice, business advice or any other advice or any kind of recommendation provided or approved by NDTV. NDTV will not be liable for any loss incurred on any investment based on any of the recommendations, forecasts or any other information contained in the article.