Why is Bollywood embracing NFTs? | NFT in Metaverse The buzz around NFTs and the Metaverse has completely changed how we perceive assets and collectables. While NFTs are essentially non-fungible, meaning they cannot be touched, only owned, the chance of duplication is minimal to none. NFTs are represented on the blockchain, each having its value; hence replicating them would only decrease the asset value.
So, why are Indian celebrities eager to jump on the NFT bandwagon?
While monetary benefits are guaranteed while investing in crypto, the main reason is to reach a wider fanbase. Gen Z is on the Metaverse, so what better way to connect with them than through NFT collections representing famous movies?
Let’s look at some famous A-listers who have created noise with their NFT collections.
Among the most prominent celebrity names to join NFTs enthusiasts is Big B himself! Amitabh Bacchan launched Madhushala, his father’s renowned poetry recitation in his voice, as part of his NFT collection. This collection is his most successful one yet, making a little over ₹5,50,00,000 ($756,000). The collection also included autographed posters and collectables from the movie ‘Sholay’. Loot Box NFT was another highlight of this NFT auction, where all 5,000 NFTs were sold in 54 minutes!
Collaborating with Singapore-based NFT marketplace, Diginoor.io, Rajnikanth unveiled his NFT collection based on his film, Shivaji-The Boss. The NFTs were tagged at anywhere between $99 to $1,500.
Apart from Rajnikanth, actor and politician Kamal Hassan, in collaboration with Fantico, is ready to launch his NFT collection soon! The 100-1000 NFT pieces will be based on movie posters, souvenirs, avatars, etc.
Did you know that your favourite scenes and dialogues from Dabangg are now available as NFTs? You heard that right! Salman Khan has launched his Dabangg NFT collection consisting of 200 pieces, 42 of which are movie scenes. Fans can own these exclusive NFTs using cryptocurrencies such as Ethereum.
India’s leading fashion designer, Manish Malhotra, has been inducted into the world of NFTs and the Metaverse! His 5 NFTs, launched on WazirX, were based on sketches and runway GIFs of his couture that Deepika Padukone, Kareena Kapoor, Alia Bhatt and Lisa Ray wore last fall.
Besides movie stars, cricketers Dinesh Karthik and Rohit Sharma have also jumped on the NFT bandwagon! While Rohit is all set to launch his NFT collection, DK’s animated clip with his voiceover is already available for bidding.
Which NFT collection are you most excited for? Comment below!
Frequently Asked Question
1) What are non-fungible tokens?
Non-fungible tokens or NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.
2) How to sell nft in India?
Here are some of the sites you can sell your NFTs on in India:
- Jupiter Meta
3) What is nft art?
An NFT is a digital asset that exists entirely in the digital sphere (Metaverse). An NFT can be any type of digital file: an artwork, an article, music or even a meme.