Shemaroo teams up with Polygon to launch 'Virtasy' – a movie NFT marketplace

The marketplace will offer film enthusiasts a range of NFTs based on iconic Bollywood movies

BestMediaInfo Bureau
Updated On
New Update
Shemaroo teams up with Polygon to launch 'Virtasy' – a movie NFT marketplace

Shemaroo Entertainment, the media and entertainment company, and Polygon Labs have teamed up to launch - a new non-fungible token (NFT) marketplace where Bollywood aficionados can gain access to an exclusive community.

In partnership with Polygon Labs, Shemaroo aims to democratise cinema by bringing Bollywood and art onto its marketplace, connecting fans with their favourite IPs through the power of blockchain technology.

At launch, Shemaroo’s Virtasy marketplace will list NFTs related to iconic Bollywood films, such as images, movie clips and 3D, metaverse-ready avatars.

Owners of these NFTs will be able to take the Bollywood characters into the metaverse, be a part of cinematic journeys, and build a collection of their own precious moments in an imperishable art form.

Virtasy’s platform enables its users to become collectors who can also earn and receive monetary rewards, along with added community engagements.

“Since its inception, Shemaroo has fostered the culture of innovation and technology that has enabled the brand to stay ahead and cater to the evolving needs of the consumers,” said Hiren Gada, CEO of Shemaroo Entertainment. “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. I am confident that by leveraging the full suite of Polygon’s innovative solutions, tools, and frameworks, we will intertwine cutting-edge modern technology with the vast popularity of iconic Bollywood movies and reach fans all around the world.”

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

By leveraging Polygon’s scaling platform, Shemaroo will be able to offer its users access to cost-efficient transactions while retaining Ethereum’s security and decentralisation.

Shemaroo has also partnered with other established industry players to bring Virtasy to the public. It has partnered up with Seracle, a Web 3.0 full- stack infrastructure company, building decentralised applications globally.

blockchain NFT movie NFT marketplace Virtasy Polygon Bollywood movies Shemaroo