Amitabh Bachchan is the latest celebrity to enter the crypto-space. Bachchan, who is now the brand ambassador of Indian crypto exchange CoinDCX, will work to raise awareness about cryptocurrencies, the company said in a press release. But he is far from the only big figure in India or around the world to actively participate in cryptocurrency. It is understandable that India is one of the countries where the crypto space is seeing rapid expansion along with Vietnam, Pakistan and Ukraine.
Bachchan will also enter the non-fungible token (NFT) space. These are digital assets that represent ‘unique’ items such as art, music, in-game items and videos among other items – which can be purchased as a collectible using cryptocurrencies.
Media reports have recently revealed that the veteran actor is expected to roll out his own NFT by November this year, which includes some of the most unique and exclusive artworks around his identity.
Several foreign actors including rapper Snoop Dogg and American TV show host Steve Harvey have already jumped into the crypto-space, a trend that is growing among Indian celebs as well.
Actress Sunny Leone also reportedly invested in September, becoming the first Bollywood actress to do so.
In fact, NFT trading platform Collexion recently signed Indian artists including Suniel Shetty, Aamir Ali, Mika Singh, and Sidhu Moose Wala to be a part of its marketplace.
According to a recent report by Indian trade body Nasscom, the global crypto tech market is projected to reach a value of $2.3 billion (approximately Rs 17,087 crore) by 2026. For India, the report has predicted reaching valuations of the crypto tech market. $241 million (about Rs 1,790 crore) by 2030.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.