Eros Investments, a portfolio of entertainment and tech firms like Eros Media World, Eros Now, and Xfinite's Mzaalo, has picked up a 90 percent stake in digital rights management company ENT Global for an undisclosed sum, and partnered with blockchain-based operating system L3COS.

According to the company, "Under the collaboration, they will launch first of its kind Fiat-on-Chain (FoC) entertainment ecosystem, which will allow creators and fans to interact directly to purchase, sell and trade various digital assets". The association will also enable mass adoption of crypto into everyday use and grow the user base globally with the backing of various currencies safeguarded by a central bank.

"As we ready ourselves for the industry evolution, Eros has created a first of its kind worldwide marketplace that eradicates entry barriers for consumers transacting on a blockchain ecosystem. This is the next stage of evolution in commerce, and we are excited to pioneer this disruption with L3COS", said Kishore Lulla, chairman, Eros Investments. The closed loop, native marketplace for celebrities and creators will go live soon, as per the company.