It is nigh impossible to find one Indian who declares that they dislike cricket and cinema. In fact, some would go so far as to say that these two are religions in their own right within the subcontinent.
Perhaps that is why NFTs have been picking up pace in India, as cricketers and movie stars alike have started launching their own lines of NFTs. In 2021, the NFT sector witnessed a surge unlike any other and celebrities were quick to explore everything they had to offer. From Bollywood to Cricket NFTs, the Indian audience has been ever-eager to invest in NFTs.
What makes them tick
According to Deloitte’s Technology, Media, and Telecommunications Predictions 2022 Report, NFT marketplaces for sports and cinema alone are projected to be valued at $1 billion dollars. As we’ve already established, India is a country that is dedicated to movies and cricket. It makes sense for platforms selling collectibles from this field to do well.
But apart from offering mere collectibles, NFT marketplaces come with utility. For instance, a celebrity NFT could come with a meet-and-greet opportunity or an invite to an exclusive event. With regard to sports, cricket game NFTs have a lot of potential. These NFTs are in-game assets that allow a user to play a game and earn rewards. They can also sell these NFTs to others and make a pretty penny.
Final Thoughts
Cinema and cricket are celebrated extensively in India. Having them combined with the potential NFTs bring to the table opens up avenues hitherto unexplored. With time, India may lead the NFT landscape and maybe even the Metaverse race!
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