Polygon blockchain has gets significant partnership in India as it is for the benefit of cinema lovers in India. Shemaroo Entertainment has partner with Polygon to launch an NFT marketplace, theme on India’s Bollywood film industry.
Shemaroo announce the development on 9th February 2023.
The Shemaroo Entertainment has decide to name its upcoming NFT marketplace ‘Virtasy.io‘, and it will be launch in the coming days.
Polygon is a green and energy efficient blockchain, create by a team of Indian developers including Sandeep Nailwal and Anurag Arjun.
Since NFT marketplaces seem to see constant engagement and transactional processes, basing them on green blockchains tends to reduce the overall running and maintenance costs associate with buying and selling NFTs.
Shemaroo Entertainment Said :
“By leveraging Polygon’s next-gen scaling platform, Shemaroo will be able to offer its users access to cost-efficient and lightning-fast transactions while retaining Ethereum’s robust inherent security and decentralisation. Further, the Polygon network is also highly sustainable thanks to its carbon-neutral status with plans to go fully carbon-negative in the near future,”.
The Shemaroo Entertainment, that was found in 1962, aims to connect Bollywood enthusiasts with digital collectibles inspire by celebrities and movie characters.
Hiren Gada, CEO of Shemaroo Entertainment said in a statement :
“Pre-empting how Web3 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,”.
As Bollywood has express interest in the NFT arena after actors like Amitabh Bachchan, Salman Khan, and Sunny Leone release their collections of digital collectibles.
Shemaroo Entertainment has dabble in the Web3 arena in recent times.
In 2022 Shemaroo Entertainment launch a metaverse cinema experience in Decentraland.
Polygon, in recent times has emerge as a popular choice in the NFT space alongside Ethereum and Solana.
Starbucks, Warner Music, and Walt Disney are other brands that have partner with Polygon for their respective NFT projects.
Kelly DiGregorio, Vice President and Global Head of Entertainment at Polygon Studios Said :
“Polygon Labs remains committed to transforming the NFT space and making it easily accessible to the thriving entertainment and art sector in India. We are delighted to now be associated with Shemaroo, a name synonymous with Bollywood,”.
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