Key Takeaways:
- NFT’s craze swept Indian celebrities in 2021 as Bollywood celebrities and athletes launched NFTs.
- According to experts, celebrities entering the NFT sector will benefit the market.
Since introducing non-fungible tokens (NFTs), we see assets have altered drastically. Collectors were ecstatic and eager to make use of the new technology.
NFTs are digital assets in which the ownership of assets is recorded via the blockchain. Paintings, movies, music, designs, and other types of art have all joined the trend since its inception.
Many Indian celebrities have released their collectables in digital assets, owing to the excitement around NFTs.
Amitabh Bachchan was one of the first Bollywood actors to join the NFT. Earlier this month, the Bollywood superstar auctioned off a recording of his father’s renowned poem ‘Madhushala’ and his collectables in the shape of NFTs.
Beyondlife.club is where Big B debuted his collectables. His old movie posters, which were autographed by the celebrity, were included among the personal artefacts in NFTs.
The goods were sold for over Rs 7.18 crore at the auction.
Salman Khan teamed with BollyCoin, a Bollywood NFT platform, to debut his NFT collections earlier in October. “Aa raha hoon main, NFTs leke,” says the narrator. Salman Khan announced his NFT collection on Twitter, saying, “Static NFTs coming on bollycoin.com.”
According to sources, approximately one million Bolly tokens were sold in the first three hours of the debut. In the same month, the actor launched GARI, India’s first cryptocurrency, which the micro-content portal Chingari created.
It was reported in November 2021 that superstar Kamal Haasan would be joining the NFT area with his collections. The actor has teamed up with a digital collectables platform called through his company Lotus Media Entertainment.
Though little specifics are available at this time, the series is set to debut at kamal.fantico.io, where admirers of the actor will purchase memorabilia and souvenirs.
Meanwhile, Fantico will create a game-based metaverse whose avatar will represent Haasan.
Apart from the Big B and Haasan, Rajinikanth, the legendary Tamil actor, has joined the NFT hype. The actor teamed up with Singapore-based NFT marketplace Diginoor.io in July.
Users can buy their favourite movie moments on Diginoor.io with a credit/debit card or a cryptocurrency of their choice.
Who can forget Chennai-based cricketer Dinesh Karthik’s last-ball six for India in the 2018 Nidahas Trophy versus Bangladesh? That was a famous shot, and the Indian cricketer transformed it into ‘Six for the Win,’ the country’s first sports NFT.
The digital artwork included an animated clip with Karthik’s voice-over, which is now auctioned.
Rohit Sharma, India’s white-ball captain, is the latest celebrity to join the NFT obsession. The cricketer will soon unveil his digital memorabilia on FanCraze, Fraze Technologies’ consumer-facing brand, which recently partnered with the International Cricket Council to become an official partner (ICC).
Memorabilia from the batsman’s century collection and the ball used to pick his maiden IPL hat-trick for the Deccan Chargers against the Mumbai Indians in 2009 will be available as NFTs.
The Indian fashion designer, Manish Malhotra, who has clothed some of Bollywood’s leading ladies, debuted his first fashion-themed NFT collection in October, which contained five digital sketches by the artist. According to reports, the artefacts went online on the WazirX NFT marketplace and were sold in 12 seconds.
Malhotra sold digital sketches of some of his most well-known designs for $4,000 each, including a constellation of Kareena Kapoor Khan sketches that sold for roughly Rs 2.8 lakh.
Raghavendra Rathore, a roboticist who constructed electrical circuits with human-like sensors, created one of India’s first apps, iCarbon, a smart carbon footprint calculator with links to promote tree planting to reduce an individual’s carbon footprint.
Rathore was one of the first designers to use proprietary blockchain technology for art to transform his personal work into NFTs in 2021.
He also started selling finely created paintings NFT inspired by the Raghavendra Rathore Jodhpur trademark. This series is being launched as part of a limited edition NFT on the WazirX NFT Marketplace in cooperation with FDCI x Lakme Fashion Week.
The Raghavendra Rathore Foundation (RRF), a recognized non-governmental organization, creates these NFTs to raise awareness for its programs (NGO).
According to Vishakha Singh, vice president for NFTs at the Indian crypto exchange WazirX, celebrity participation in the category is poised to generate buzz in the space.
Many people are perplexed by the rise of NFTs, believing that spending enormous sums of money on products that don’t exist and can only be viewed online makes no sense.
Despite this, global NFT sales soared to $10.7 billion in the third quarter of 2021, an eightfold rise from the previous quarter, according to statistics from market tracker DappRadar.
