What is driving India’s NFT mania?
In the year 2021, we went from wondering “what are NFTs?” to following the news of several top cricket and Indian cinema celebrities launching their own NFT (Non-Fungible Tokens) collections – all in the span of a few months.
In the year 2021, we went from wondering “what are NFTs?” to following the news of several top cricket and Indian cinema celebrities launching their own NFT (Non-Fungible Tokens) collections – all in the span of a few months.
At The Decrypting Story, we decided to closely look at startups that are tapping into India’s obsession with cricket and movies to build unique NFT products. The space includes the likes of , , , , , , BeyondLife, and NFT Marketplace.
While some are developing marketplaces for users to buy and trade NFTs, others are partnering with celebrities to mint NFTs, and some are also working with large brands to protect their IPs amid the NFT mania.
Diginoor, an NFT marketplace, is bullish on India’s cinema segment for driving the technology’s adoption. It made its debut with NFTs from South Indian superstar Rajinikanth.
According to Shaamil Karim, Co-founder and CEO, Diginoor, the platform saw a 60 percent increase in sales for its NFT drop featuring content from the Sivaji: The Boss (2007), such as deleted scenes, exclusive scenes of set props. Read more.
Editor’s Pick: The rise of refurbished device market in India
The COVID-19 pandemic, coupled with the global chip shortage, has led to an increase in demand for refurbished devices in India.
These devices, which also include home appliances, laptops, accessories, and so on, are sold both in online and offline mediums through ecommerce or small retailers. Ecommerce giants like Amazon, Flipkart, and others even have a separate vertical to sell refurbished products. Read more.
Startup Spotlight
Streamlining last-mile delivery for ecommerce
Ever dealt with explaining an address to a delivery person? Or, finding out that the product you ordered is damaged because it was dropped off at home while you were at work?
Bengaluru-based says it solves these last-mile ecommerce pain points by offering what it calls ‘Shop Online, Pickup Here’ solutions. The startup installs and operates pods at common locations within apartments, offices, educational institutions, and corporate campuses. Read more.
News & Updates
- Over the weekend, founder and Shark Tank India judge Ashneer Grover spoke about his ambitions to pursue politics in the future. Responding to a question on Rohan Joshi's popular YouTube channel, Grover mentioned his desire to get into politics, linking it to his experience as a founder in the Indian economy.
- On the occasion of the third annual 'Huddle 2022' conference run by Kerala Startup Mission (KSUM), Kerala Chief Minister Pinarayi Vijayan announced an ambitious target of having over 15,000 startups and two lakh jobs in the state over the next five years.
- Nithin Kamath, Founder and CEO, , blames the pressure to grow for the poor identity checks implemented by lending platforms. In a series of tweets, Kamath links this lack of infrastructure to the rise of online financial fraud.
Before you go, stay inspired with…
“We should all take a second in our lives and give gratitude to the doors that opened in our lives.”
— Shruti Haasan, Actor and Creator
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