Why Are Celebrities Eyeing The non-fungible tokens (NFT) Market In India?
When actor Salman Khan announced his NFT plans, it reignited the interest in a booming industry that is as much talked about as it is disliked. Some believe that NFTs are beneficial for the public, while others are not convinced about the technology's longevity. Many more celebrities are also planning to enter the NFT market . 1. What Is NFT? Non-fungible tokens are digital copies of various media, such as art, music, and video. They were introduced in 2017. Bitcoin and NFTs are based on the same technology. Unlike cryptocurrencies, NFTs are not fungible and cannot be exchanged. Also, they are typically paid in installments. Not everyone is convinced about the value of NFTs. Some people believe that if you reproduce the Monalisa exactly as Leonardo Da Vinci did, then you'll be able to claim the same amount of value as the original. 2.India Connection Despite the current economic growth, many Indians still see an opportuni...