Will Salman’s BollyCoin cash grab help NFTs?

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Editor's note: All it took was a couple of tweets from Salman Khan to sell out 2 million of an unknown cryptocurrency in less than seven hours. What is BollyCoin and the NFT space that “Bhai”is planning to take over, and does it have the potential to change India’s current cryptocurrency landscape? Given the excitement and interest, we broke our regular publishing schedule to put together this note. I spent the entire day during the pre-sale of the BollyCoin token on its Telegram group, read its whitepaper, spoke to some of the initial backers and spectators to get some answers.  At the outset, BollyCoin is positioning itself as the next big place for Bollywood-related NFTs. NFTs, or non-fungible tokens, are a way to record ownership of a digital asset (like an image of Salman Khan) on a blockchain. NFTs are priced in a cryptocurrency such as Ethereum—in this case, BollyCoin will be the only form of cryptocurrency that can be used to purchase your favourite Salman NFT on their platform. The founding team of the BollyCoin project also consists of a number …