Salman Khan-backed NFT platform sells tokens worth $2 mn in a month

BollyCoin, an NFT platform for Bollywood enthusiasts that will go live in December, has successfully closed its pre-sale round of 20 million tokens worth $2 million within a month.

BollyCoin has announced its partnership with prominent production houses including Salman Khan Films, Arbaaz Khan Production, Sohail Khan Productionz, Reel Life Production Pvt. Ltd. The platform is in talks with a few other Bollywood stars and more names will be made public next month.

The platform, whose board includes Bollywood actor Atul Agnihotri, offered BollyCoins at a fixed price of Rs 7 per token. By buying the tokens, the holders can reap real-world benefits each time they sell the NFTs on the BollyCoin platform, the company said.

BollyCoin holders will be able to trade the coins on crypto exchange platforms after the company’s initial DEX offering (IDO) in December.

Kyle Lopes, co-founder, BollyCoin, said, “Bridging the emerging crypto market with Bollywood, we aim to provide an innovative way to allow the industry and blockchain enthusiasts from around the world to own NFTs of their favorite films and celebrities.”

“Around a million BollyCoin tokens were sold within the first three hours while the figure reached 2 million at the end of seven hours,” he added.