NEAR Foundation Partners with Shemaroo to Innovate Web3 in Indian Media

• The NEAR Foundation is collaborating with Shemaroo Entertainment to enhance media.
• Shemaroo will develop new solutions and services for its users.

NEAR Foundation, the blockchain operating system, has partnered with Shemaroo Entertainment, one of the leading players in India’s media and entertainment industry. The collaboration is to improve Web3 innovation in the entertainment industry across India and beyond. The partnership is expected to have a greater future for NEAR and the entertainment sector.

On Tuesday, the NEAR Foundation tweeted about its partnership with Shemaroo Entertainment. With sixty years of experience in Indian cinema, Shemaroo aims to explore the potential of blockchain technology through this collaboration. The Web3 innovative cells will focus on providing new opportunities for decentralization, transparency, and immutability in the media and entertainment sectors. 

NEAR Foundation to Enhance the Entertainment Sector

Additionally, Shemaroo will get into the NEAR Foundation’s blockchain technology and smart contract capabilities to develop new solutions and services for their users. 

Hiren Gada, CEO of Shemaroo, stated

As a forward-thinking company, we are always looking for new ways to innovate and enhance our offerings to better serve our users.

Hiren also believes that blockchain technology has the potential to create a new revenue stream for the industry. And also mentioned the benefits of NEAR becoming the Blockchain Operating System (BOS), which will reduce the time for market projects. Moreover, it will ease and accelerate Shemaroo’s adoption of Web 3. 

The NEAR Foundation and Shemaroo partnership is expected to produce numerous benefits for both ecosystems. It will enhance the Indian entertainment sector with improved security, faster transaction speeds, and lower costs. Moreover, Shemaroo can integrate with things like NFT and the metaverse experience. The partnership is one of the major steps toward unlocking the full potential of blockchain technology in the entertainment industry.