"we are making the first NFT collection from a Bollywood star"
Amitabh Bachchan has become the latest celebrity to join the cryptocurrency space.
The legendary Bollywood actor is now the brand ambassador for the Indian crypto exchange, CoinDCX.
He will be working on raising awareness of the currency and popularising it as an emerging asset class.
Sumit Gupta, co-founder and CEO of CoinDCX said: “We are honoured to have Bachchan as our brand ambassador.
“Being a crypto investor himself and having launched his own NFTs (non-fungible tokens) recently, Bachchan is well-versed with the crypto space.
“His knowledge will prove valuable in building trust and credibility amongst new users.
“We are certain that his association with CoinDCX will help bring greater visibility to the world of crypto and develop a strong brand recall for us.”
NFTs are digital assets representing unique objects such as pieces of art and music that can be purchased as collectables using cryptocurrency.
Bachchan’s own range is expected to be rolled out in November 2021 and includes some of the most exclusive artworks surrounding the star.
Fellow Indian actors Suniel Shetty and Aamir Ali have also jumped on the craze by signing on with middle eastern NFT trading platform, Colexion.
Meanwhile, Bollywood actress Sunny Leone became the first to launch her own versions of the digital assets in September 2021.
She said: “Crypto’s and NFT’s are the future and I feel proud to be able to bring the future to India and the rest of the world and make history and deliver an NFT that my fans can own and even resell.
“What I care about most is that we are making the first NFT collection from a Bollywood star and that is exactly why we are going so far to make every piece of art completely original and unique for each person who buys an NFT.”
The use of cryptocurrencies has increased dramatically in India in recent years.
The crypto tech market is estimated to be worth around £177 million in the country by 2030.
While the industry is not currently regulated in India, the government is in the process of creating a law that will help protect potential investors.
However, the lack of legislation means that there is no complete trust in crypto at the moment, something which CoinDCX hope to tackle by bringing Bachchan on board with them.
The company said: “Being a leading exchange, CoinDCX wants to ensure that crypto is accessible to everyone.
“The crypto industry in India is on an exponential climb, rising gradually over the previous few years, with millions of Indians emerging as early adopters of the crypto asset class.
“With this campaign, we aim to reach out to a wider audience and educate the masses about crypto as an asset class.”