Bollywood megastar Amitabh Bachchan’s maiden non-fungible token or NFT has received the highest ever bidding of its kind in the country, signalling a possible, upcoming wave in the country to collect these digital assets. In what is seemingly turning to be a trend in the Indian film industry, Amitabh Bachchan has become the first Bollywood star to launch his own NFT collection and the stint indeed has become a successful one as of now. The star’s NFT collections of ‘Madhushala’, autographed posters and collectables, have received bids worth Rs 3.8 crore ($520,000) during the first day of auction organised by Beyondlife.Club on Tuesday.
Beyondlife.Club, an Indian NFT platform launched by decentralised NFT exchange GuardianLink.io, had in August announced that Amitabh Bachchan is going to launch his own non-fungible token or NFT collection on the platform. Bachchan’s ‘Madhushala’ NFT collection has received the highest-ever bidding in India at USD 420,000 on Day 1 of the auction, said PTI quoting a statement released by Beyondlife.Club. The auction that started on November 1, Monday, is set to close on November 4, Thursday. On that note, let’s take a detailed look on NFTs, and Amitabh Bachchan’s collection of these digital tokens.
What is an NFT?
An NFT is a one-of-a-kind digital asset that represents real world objects such as music, art, in-game articles, videos or even social media posts. Being non-fungible, NFTs can not be interchanged with anything else as it is unique and irreplaceable. These digital tokens have been around since 2014.
But what makes NFTs unique? Data from the internet can be stored easily, one may argue. However, even though one can get a free copy of one item in an NFT, the unique properties will be surely missed out on. This is where the non-fungible part comes into play. To put in a simple manner, millions of copies of Van Gogh’s painting The Starry Night is available all across the world. But the original one, kept in the Pushkin Museum in Moscow, still holds the same value.
What is the Amitabh Bachchan NFT?
As per Beyondlife’s website, “The Amitabh Bachchan NFT is a set of limited edition digital collectible featuring the Bollywood superstar. It includes some of the most exclusive creations featuring the superstar… Like poetry in his voice, vintage posters, digital art and “Big B Punks”.”
According to PTI, Madhushala NFT is the poem collection of the actor’s father recorded in the superstar’s own voice. The auction also features seven autographed posters from his iconic movies and six of the ‘punks’, NFT art and poster collection. Another feature in this NFT is a ‘Loot Box’ worth USD 10 each, in which buyers an assured art piece from the NFT collection. There are 5,000 units of the Loot Box, which got sold out on Tuesday itself.
How to Buy the Amitabh Bachchan NFT?
To buy the Amitabh Bachchan NFT, you need to first create a profile on Beyondlife.Club. After that, from the wallet option, you need to load your wallet with the right amount of money to buy the collectibles. For this, you have to go to the Deposit Funds option and fill the amiunt to be added. You can either participate in the auction after this or buy the NFT directly with the money in your wallet. The payments for your wallet can be completed via cryptocurrencies, UPI or credit cards.
Read all the Latest News , Breaking News and IPL 2022 Live Updates here.
Comments
0 comment