On October 4, India’s first crypto unicorn CoinDCX introduced the onboarding of Indian movie star Amitabh Bachchan as its model ambassador. By far, that is probably the most important publicity measure within the Indian crypto business, which is believed to have a 15-million robust investor base and about $1.5 billion in investments.
Amitabh Bachchan who’s professionally nonetheless lively on the age of 78 is an especially well-liked public face whose reputation cuts throughout generations. Currently, he hosts the thirteenth version of the Kaun Banega Crorepati (KBC) telecast on Sony Entertainment and StarPlus TV channels. It is an Indian adaptation of the British TV present ‘Who Wants to Be a Millionaire’.
Last week, CoinDCX had launched a set of studying modules for hearing-impaired on its blockchain. It’s but not clear whether or not the crypto exchange that recently turned a unicorn goes to make use of the megastar for publicity or schooling of cryptocurrency and blockchain.
In gentle of the Indian authorities’s indifference, if not downright belligerence, to cryptocurrency, it’s fascinating to see Amitabh Bachchan letting his reputation be used for the good thing about digital foreign money.
“We are honored to have Bachchan as our brand ambassador. Being a crypto investor himself and having launched his own NFT (non-fungible token) recently, Bachchan is well-versed in the crypto space. His knowledge will prove valuable in building trust and credibility amongst new users. We are certain that his association with CoinDCX will help bring greater visibility to the world of crypto and develop a strong brand recall for us,” Sumit Gupta, co-founder and CEO, CoinDCX, stated.
Early final month, Amitabh Bachchan had made his outreach to the crypto world official by permitting NFTs private collectibles linked to him to be hosted on NFT market BeyondLife.Club.
Founded in 2018, CoinDCX has emerged as the primary $1 billion crypto startup after it obtained $90 million in Series C funding from B Capital Group, a world funding agency arrange by Facebook co-founder Eduardo Saverin.
Despite the rising reputation of cryptocurrency and blockchain know-how within the nation – each amongst traders and India’s vibrant know-how sector, the Indian authorities has been frosty about bringing in rules for this sector. In a current interview, Indian Finance Minister Nirmala Sitharaman made her stand on cryptocurrency clear saying, “India needs to think it through.”
Early in February this yr, the federal government was planning to herald laws that supposed to ban digital cash and supply a authorized framework for the launch of an official coin below the aegis of its central financial institution, the Reserve Bank of India (RBI). However, analysts imagine that the federal government understands that banning cryptocurrency isn’t an possibility as folks would possibly nonetheless purchase and use it. It would possibly go in for some sort of regulation and is watching the developments globally on this entrance.
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