Non-fungible tokens (NFTs) are quickly getting incredibly popular among celebrities all over the world, who are selling their digital collectables to fans. Indian celebrities aren't far behind and superstars like Amitabh Bachchan, Rajinikanth, Kamal Haasan, Yuvraj Singh and others have launched their own NFT collections.

Now Ikonz, a company backed by actor-investor Rana Daggubati and Anthill Ventures founder Prasad Vanga, wants to cash in on the craze and help individuals manage their digital assets. The company, which was founded by Indian-American entrepreneur Abhinav Varma Kalidindi, is a Metaverse company that seeks to help artistes, celebrities and owners of the collectables to manage the assets that they own.

The company will provide a platform to IP owners so they can understand the complex blockchain technology and help them monetise and upscale, Economic Times reported.

NFTs had recently taken the top spot as the most influential 'entity' in the world of contemporary art. ERC-721, the specification for the non-fungible token on the Ethereum blockchain, was at the top of ArtReview's 20th Power 100 list, making it the first time for a non-human to top the list.

"NFTs have turbocharged a new crossover between pop culture and contemporary art, even if you can’t avoid the fact that the NFT explosion is driven by a feverish speculation over cryptocurrencies," JJ Charlesworth, Editor at ArtReview said.

The popularity of NFTs has ballooned over the past year, following roughly the same trajectory that the cryptocurrency market as a whole has seen. Many have called NFTs and other decentralised technology that makes up the future Web3.0, as the next big thing.

"The social media scene will change drastically in the next 5-7 years with Web3. Everything will be in 3D. The Internet will be decentralised and based on blockchain technology. I have been presenting the idea of Ikonz to investors here in India after shifting base and Rana (Daggubati) and Prasad understood it very quickly," Kalidindi, founder and CEO of Ikonz told ET.