Indian media giant’s Fully Faltoo NFTs sell out in 48 hours
Indian media staple Viacom18’s Youth, Music and English Entertainment Cluster (YME) released 3,000 Fully Faltoo non-fungible tokens (NFTs) that sold out within 48 hours since launching, the company said in a press release on Wednesday.
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Fast facts
- Fully Faltoo is a local award-winning sitcom program that joins a growing number of Indian celebrities and entertainment companies that have launched their own NFTs to diversify their promotional channels and fan engagement.
- The 3,000 NFTs of the loot category consisted of collectibles inspired by popular characters from the show such as “Bakra urf G.O.A.T” and “Rangu The Champ,” which saw 40% of sales in the first 30 minutes.
- India recently announced a 30% tax on crypto income, and NFTs are not exempted.
- Viacom18 said Fully Faltoo will continue to drop more such culturally-oriented tokens on the Fully Faltoo NFT marketplace, powered and facilitated by infrastructure builder GuardianLink.
- The 3,000 loot category collection sold out but 13 rare NFTs are open for bidding until Feb. 21 at the NFT marketplace.
See related article: Indian crypto tax creates more confusion than clarity for traders, exchanges
