Shemaroo Partners with Polygon to Debut Bollywood NFT

Shemaroo Partners with Polygon to Debut Bollywood NFT

Shemaroo Entertainment, a major player in the Indian entertainment industry, has teamed up with Polygon Labs to launch its native currency trading platform, Virtasy.io, exclusively on the Polygon network. As stated in the release, once the market is up and running, NFTs such as photographs, movie clips, and 3D avatars that are suitable for the metaverse will be made available from famous Bollywood flicks.

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Through the use of Virtasy.io, holders of NFT will have the chance to bring their favorite Bollywood characters into the metaverse, participate in incredible cinematic adventures, and compile their own collections of precious experiences.

Users on Virtsy’s community-focused platform, which promotes extra community activities, have the opportunity to earn and get prizes for their participation.

By employing the scaling infrastructure provided by Polygon, Shemaroo intends to provide customers with fast and inexpensive transaction options while preserving the high level of security and decentralization offered by Ethereum.

Shemaroo has also partnered with Seracle, a company that specializes in providing Web 3.0 full-stack infrastructure, in order to provide Virtasy to the general public. Virtasy.io will first make itself available to members of the general public during a period known as early access.

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According to Hiren Gada, the Chief Executive Officer of Shemaroo Entertainment, “Pre-empting how web 3.0 is going to impact the entertainment industry, and to be future-ready, Shemaroo has chalked out its roadmap in this space, and the launch of Virtasy is a major step in that direction.” Virtasy is a virtual reality platform that allows users to experience virtual reality environments and virtual reality games.

“Polygon Labs is still dedicated to revolutionizing the NFT area and making it readily available to India’s flourishing entertainment and creative industry. We are ecstatic to announce that we have been affiliated with Shemaroo, a brand that is almost synonymous with Bollywood. “I am convinced that together we will be able to link NFTs to an audience that is both devoted and passionate,” remarked Kelly DiGregorio, who serves as the Vice President and Global Head of Entertainment at Polygon Studios.

Indian entertainment firms are currently researching web3 potential to both capitalize on the technology and grow their audience by using it. Through a partnership with HEFTY Entertainment, a web 3 project of Hungama Studio, Asia’s biggest music and entertainment firm, T-series, announced its arrival into the metaverse the previous year.

Compiled by Coinbold