"NFTs have opened a new realm of opportunities"
Amitabh Bachchan’s collection of non-fungible tokens (NFT) auctioned for nearly $1 million.
The auction was hosted by BeyondLife.club and powered by Guardian Link, one of India’s biggest decentralised branded marketplaces for NFTs.
It opened on November 1 and ended on November 4, 2021. After the auction was over, it had broken records in India.
In total, the collection auctioned for $966,000, the highest ever in India.
Amitabh’s ‘Madhushala’ NFT collection was the most successful, selling for $756,000.
It is the poetry collection of the actor’s father, recorded in Amitabh’s own voice.
The Iconic Vintage Posters NFT featured seven autographed posters from the actor’s iconic films sold for $94,052 while the Punks and NFT Arts collection went for $66,900.
Another feature at the auction was the ‘Loot Box’ worth $10 each, wherein every buyer of the box gets an assured art piece from the NFT collection.
The Loot Box offered 5,000 collectables and it saw more than 300,000 people across the world sign up for them.
Unsurprisingly, the entire Loot Box collection sold out in just 54 minutes.
Amitabh Bachchan said: “In this world of digitisation, NFTs have opened a new realm of opportunities to engage with my fans even more than before.
“The successful auction of my NFTs, some of the most treasured and personal moments of my life and career were so well received and invested in by my supporters.
“This indeed was a very proud moment for me and also paves way for my industry folks too to come on board and engage with their fans with this new-age technology.”
In August 2021, it was announced that Amitabh Bachchan would roll out his NFT collection on BeyondLife.club.
The growing popularity of NFTs has taken India’s entertainment industry by storm, with a host of Bollywood and regional stars lining up to sell their digital collectables.
While Amitabh’s NFT collection sold for the highest amount in India, he was not the first Indian celebrity to go live with a collection.
In October 2021, Malayalam actor Dulquer Salmaan signed an agreement with Abu Dhabi-based technology company Ammbr to hold an NFT sale for his film Kurup.
Dulquer had an NFT version of the film’s poster signed by himself and the film’s director Srinath Rajendran.
His collection also included videos with embedded music and digital artwork.
Rapper Raftaar, singer Mika Singh, and YouTuber Amit Badana have also tied up with NFT marketplaces.