Shemaroo, a leading media and entertainment company in India, is set to launch its NFT marketplace Virtasy.io on the Polygon network.
The platform will feature NFTs from beloved Bollywood films, including images, movie clips, and 3D avatars that are ready for the metaverse.
Bringing Bollywood to the metaverse
According to a statement, users who own NFTs will be able to bring their favorite Bollywood characters into the metaverse, relive iconic cinematic moments, and curate collections of their special memories.
Virtasy’s community-centric platform will also enable users to earn rewards, engage with the community, and be part of the NFT ecosystem.
By leveraging green blockchains like Polygon for NFT marketplaces, operating and maintenance costs for buying and selling NFTs can be significantly reduced due to the platform’s continuous engagement and transactional processes.
Hiren Gada, the CEO of Shemaroo Entertainment, stated that by utilizing Polygon’s cutting-edge scaling platform, Shemaroo aims to offer users cost-effective and swift transactions while maintaining the robust security and decentralization of Ethereum.
The NFT marketplace will be accessible during an early access period initially.
Hiren Gada also mentioned that Shemaroo has been actively involved in the Web3 space, having introduced a metaverse cinema experience in Decentraland last year. The collaboration with Seracle, a Web 3.0 infrastructure company, has made Virtasy accessible to the public.
Polygon and the NFT industry
Polygon has been gaining popularity in the NFT sector alongside Ethereum and Solana. Major brands such as Starbucks, Warner Music, and Walt Disney have joined forces with Polygon for their NFT initiatives.
Kelly DiGregorio, the vice president and global head of entertainment at Polygon Studios, emphasized that Polygon Labs is dedicated to revolutionizing the NFT space and making it easily accessible to India’s thriving entertainment and art industry.
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