India’s Shemaroo Entertainment Ropes in Polygon to Launch Bollywood-Themed NFT Marketplace

Polygon is a green and energy efficient blockchain, created by a team of Indian developers including Sandeep Nailwal and Anurag Arjun.

India’s Shemaroo Entertainment Ropes in Polygon to Launch Bollywood-Themed NFT Marketplace

Photo Credit: Facebook/ Shemaroo

Shemaroo was founded in 1962 and is among the first media giants to experiment with Web3

  • Shemaroo had launched a metaverse initiative last year
  • Shemaroo aims to ready itself for the Web3 future of entertainment
  • Previously, Amitabh Bachchan and Salman Khan have dabbled with NFTs

The Polygon blockchain has bagged another significant partnership in India and this time, it is for the benefit of cinema buffs in the country. Shemaroo Entertainment has partnered with Polygon to launch an NFT marketplace, themed on India's Bollywood film industry. Shemaroo announced the development on Thursday, February 9. The entertainment and media company has decided to name its upcoming NFT marketplace ‘', and it will be launched in the coming days.

Polygon is a green and energy efficient blockchain, created 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 associated with buying and selling NFTs.

“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 entertainment firm said in a statement.

The company, that was founded in 1962, aims to connect Bollywood enthusiasts with digital collectibles inspired by celebrities and movie characters.

“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,” Hiren Gada, CEO of Shemaroo Entertainment said in a statement.

Previously, Bollywood has expressed interest in the NFT arena after actors like Amitabh Bachchan, Salman Khan, and Sunny Leone released their collections of digital collectibles.

Shemaroo itself, has dabbled in the Web3 arena in recent times. For instance, last year it launched a metaverse cinema experience in Decentraland.

Meanwhile, Polygon, in recent times has emerged as a popular choice in the NFT space alongside Ethereum and Solana.

Starbucks, Warner Music, and Walt Disney are other brands that have partnered with Polygon for their respective NFT projects.

“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,” said Kelly DiGregorio, Vice President and Global Head of Entertainment at Polygon Studios.

Samsung's Galaxy S23 series of smartphones was launched earlier this week and the South Korean firm's high-end handsets have seen a few upgrades across all three models. What about the increase in pricing? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

Affiliate links may be automatically generated - see our ethics statement for details.

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Radhika Parashar
Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at More
Vivo Y100 5G Leaked Marketing Images Reveal Design, Specifications; Price in India Tipped Ahead of Launch
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News


Follow Us
© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »