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Bollywood’s box office earnings are down—but its NFT sales are booming
BY
Times have rarely been tougher for Bollywood, India’s Hindi language film industry. Revenue from theaters plunged by 80% to $378 million in 2020, according to consultancy EY. Theaters started reopening in October after an eight-month shutdown last year, but now some are closing again owing to Omicron. Amid the disruption, though, the industry that saw annual revenue of $2 billion prior to the pandemic has found a sliver of hope in one of the world’s hottest trends: non-fungible tokens or NFTs.
Since November, industry players have raised around $4 million by selling NFTs, digital assets that provide an immutable digital signature to real world objects like video clips and music, says Raj Kapoor, founder of India Blockchain Alliance.
source https://duchonsigns.wordpress.com/2022/04/07/bollywoods-box-office-earnings-are-down-but-its-nft-sales-are-booming/
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