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Since the previous year, NFTs have gained much popularity, and their trading volume has increased by almost 43% after April 2021. The non-fungible token's market holds a huge space for financial growth.
Let us briefly understand what an NFT is. NFT is a kind of modern-day collectable that symbolizes a virtual asset linked to some physical goods. Many famous artists, business people and movie stars have built a vast portfolio of Non-fungible tokens so far.
Moving forward with Bollycoin, it actually aims to be the marketplace for Bollywood assets. So, in a nutshell, Bollycoin holders can earn the rewards from the sold NFTs on this marketplace.
Until now, what audiences do is to watch the entertainment created by the Bollywood industry. But, what if I say that audience now can create their own entertainment? Well, the thought becomes a reality with BollyCoin, which enables the audience to choose the kind of content they want to produce.
Let’s understand this. Users can trade and buy NFTs on the Bollycoin marketplace, and also they can create their content for which they will be rewarded through Bollycoin's token.
Bollycoin holders will get the reward whenever an NFT gets sold on the platform, and the rewards will be in the form of BollyCredits that users can use to purchase the Non-fungible tokens on the platform itself. Note that Bollycoin is the native token of the Bollycoin ecosystem and will provide voting rights to the holders.
With the utility token, it becomes easy and convenient for people to be a part of the network. Notably, the supply of Bollycoin is limited to 10 million.
Soon in October 2021, there will be the pre-sale round of 20 million Bollycoin tokens, where the price for 1 Bollycoin will be $0.1. Hence, the goal of the pre-sale sound is to raise a sum of $2 million.
You can buy Bollycoin (BOLLY) using BUSD or USDC, and the round is only open to the participants from the permitted jurisdictions.
With Bollycoin, the entire community can become a part to shape what kind of content should be released next. Also, with the use of blockchain technology, Bollycoin can potentially create irreplaceable experiences to shape the industry. It is an excellent way to earn Bollycoins passive, which you can later use to convert into Bollywood memorabilia.
One thing to be noted is that the rewards will be in the form of Bollycredits, and the credits can be used only on the Bollycoin platform to purchase Non-fungible tokens. You cannot sell those credits in the market.
Until now, the entertainment industry is very much centralized, where the producers earn profits on their investment in the industry. But, with the Bollycoin marketplace, the directors can directly pitch their movies to the crypto enthusiast, and if their movie gets enough investment, then that film will be produced. Note that the funds will be arranged by selling the NFTs for that movie to the crypto investors. Hence, the Bollycoin ecosystem has the ultimate potential to decentralize the entertainment industry.