Amitabh Bachchan has launched his own NFTs (Non-fungible tokens), which will include unique and limited artworks themed around Amitabh Bachchan and his life. Now, you must be curious to know more right? Don’t worry, we got you covered.
What is NFT?
NFT's full form is Non-Fungible Tokens. Now, Let's break down its meaning into three parts: Firstly, it’s a digital token, which means it does not have a physical presence. Secondly, it means that it is unique and can’t be replaced with something else. Each NFT has a digital signature that makes it impossible for NFTs to be exchanged for or equal to one another (hence, non-fungible) unlike bitcoin. And thirdly, they are digital assets that represent real-world objects like Arts, Music, in-game items, and videos.
Who's launching what?
The Angry Young Man of India, known for experimenting with new roles in the film industry, is now all set to experiment in the Crypto world as well. Yes, Mr. Amitabh Bachchan is going to launch his own NFT in November 2021 and will be the first person in the whole of Bollywood to do so.
Understanding what his NFT would be like, let's dive into what all will be part of the collection. His NFT would include unique and limited artworks themed around him, including posters such as that of Sholay autographed by him, his own voice narration of poems from ’Madhushala’, the renowned collection of poems by his father Mr. Harivansh Rai Bachchan and there would be stories themed around his life and some narratives from his much-celebrated Bollywood career.
Mr. Bachchan will roll out his NFT collection on BeyondLife.Club platform. This platform is a partnership between Rhiti Entertainment and the No Code NFT Exchange platform- GuardianLink.io. His NFTs would work and will be sold in the form of auctions which are scheduled to take place in the first week of November. Doesn’t it come to mind once that how is the whole process going to be? But, it’s a simple and straightforward process wherein you just need to login on to the website on which Amit Ji will be rolling out his NFT, i.e, BeyondLife.Club, bid during the auction, exceed or meet the reserve price, and become the proud owner of a unique NFT. Given the levels of income and the amount of response being received on NFTs, Mr. Bachchan may be the first in Bollywood to launch an NFT but he’ll surely not be the last.
Is it worth it?
A lot of people in Hollywood have launched their NFTs and found it to be a successful decision. One logical and endless supply of content for NFTs would be clips and characters from successful and sterling movies. The best example of this could be, Ben Mauro, a concept artist who worked on the Hobbit films, Man of Steel, and the upcoming Halo Infinite video game. He made more money in seven minutes than he had in 12 years of his entertainment work. That happened when he sold a dozen pieces of his digital art for $2 Million worth of NFTs. Many who make their living in Hollywood have and are seeking to capitalize on innovation like this considering a boom in its market. But, this will be the first time that a Bollywood Superstar would enter into this space. What if you were given an option as a fan of a superstar, to suggest what you want as an NFT from them. Well, this is what is happening in this new world of dealing. The site BeyondLife. The club is requesting fans to provide suggestions for the kind of NFTs they would like Amitabh Bachchan to create. So, with flexibility and ownership both in your hands, this new world of content and value creation in the form of digital assets is a win-win for everyone.
By- Nandini Jain & Bhargab Majumdar
Comments