Indian entertainment giant Shemaroo Entertainment partners with Polygon Labs to launch its NFT marketplace Virtasy.io exclusively on the Polygon network. Per the announcement, the marketplace will list NFTs from iconic Bollywood films, such as images, movie clips, and 3D, metaverse-ready avatars upon launch.
The NFT holders will have the opportunity to bring their preferred Bollywood characters into the metaverse, take part in unforgettable movie adventures, and create collections of their own priceless experiences via Virtasy.io.
Users can also earn and receive awards on Virtasy’s community-focused platform, which encourages additional community activities.
Shemaroo plans to offer users quick and cheap transactions while maintaining Ethereum’s strong security and decentralization by utilizing Polygon’s scaling infrastructure.
To introduce Virtasy to the general public, Shemaroo has also teamed up with Web 3.0 full-stack infrastructure firm Seracle. During an early access period, Virtasy.io will initially be accessible to the general public.
Hiren Gada, CEO of Shemaroo Entertainment stated “Pre-empting how web 3.0 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.”
“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. Together, I am confident we will be able to connect NFTs to a loyal and enthusiastic audience,” added Kelly DiGregorio, VP & Global Head of Entertainment at Polygon Studios.
Indian entertainment companies are actively exploring web3 opportunities to exploit the technology and expand their audience with it. Last year, Asia’s largest music and entertainment company, T-series announced entry into the metaverse through collaboration with HEFTY Entertainment, a web 3 initiative of Hungama Studio.