Key Takeaways
- Bollywood Megastar Amitabh Bachchan sells his NFT collection for a whopping $9.6 million.
- The auction, launched on Nov 1, ended with his father’s poem Madhushala getting the highest bid.
- Since the success of the NFT industry, many Indian movie stars have also partnered with simmilar platforms.
YEREVAN (CoinChapter.com) — Bollywood megastar Amitabh Bachchan officially floated his first NFT collection on Nov 1. Launched on BeondLifeClub, the collection opened for bidders at 12-noon Indian time.
The multi-award-winning star took on Twitter to share the news with his fans.
“The official #AmitabhNFT is going LIVE today, Nov 1 -12 pm,” he wrote.
As soon as they launched, the much-awaited NFTs kickstarted a bidding war among fans, taking the prices of the digital collectibles soaring.
As a result, Amitabh Bachchan sold his collection for a whopping $9.66 million in the auction.
Recommended: Bollywood star Amitabh Bachchan to launch personal NFT collection in November
Madhushala NFT set gets the highest bid
The NFT collection auctioned included original movie posters signed by the veteran actor, a pixelated digital artwork collection featuring him, and his narration of the 135 verses from the book “Madhushala.”
The ‘Madhushala’ NFT collection, a poem written by Amitabh Bachchan’s father Harivansh Rai Bachchan and recorded in the actor’s voice, crossed a total of $756,000 worth of bids, making it the highest bid in the entire collection. The English narration went for $276,000, while the Hindi version of the poem fetched a whopping $480,000.
Another set of NFTs was called the ‘Loot Box,’ wherein every buyer received an assured NFTfrom the collection. All 5,000 NFTs sold in less than an hour.
Seven Iconic Vintage autographed Posters NFT fetched over $94,000, while the BigB Punks and NFT Arts collection went for a final bid of $66,900.
The immense success of Amitabh Bachchan’s NFT signals a major rise in the interest of NFTs in India. 65% of the total bids came from India, while 35% came from other countries.
Amitabh Bachchan gave a huge endorsement to the NFT industry in a comment about the success of his drops.
“In this world of digitization, NFTs have opened a new realm of opportunities to engage with my fans even more than before. 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,”
the actor said.
Recommended: Former pornstar Sunny Leone wants to beat Amitabh Bachchan in the race to first Bollywood NFT
Bollywood dives deep into NFT
Ever since Non-Fungible Tokens gained worldwide fame, Bollywood has seen several stars take an interest in floating their own NFT collections.
After Amitabh Bachchan created ripples in Sept when he partnered with Indian platform BeyondLife.club to release his collection of Non-Fungible Tokens, the industry has taken off.
Former Pornstar, Bollywood celebrity Sunny Leone entered the NFT race soon after, eyeing to beat everyone in the race to the first Bollywood NFT.
Just a day before Mr. Bachchan’s NFT drop, Sunny Leone revealed her Misfitz collection on Twitter. The actress partnered with Mintdropz, a Silicon Valley-based startup, to launch her collection. While she revealed some of her collection and organized an early drop, they are not available in the market yet.
Another megastar from Bollywood, Salman Khan, announced he would launch his non-fungible tokens.
To share the news, Salman Khan said he had forged a partnership with Bollywood platform BollyCoin. Salman’s NFT collection will reportedly hit the markets in December 2021.
After his announcement, the platform sold over 1 million BollyCoin in under 3 hours. By the end of the first day, buyers grabbed 7 million of the coins.
Joining him in the NFT world is Bollywood Co-Star Sunil Shetty. According to reports, the Indian cinema star has invested in Asia’s biggest Non-Fungible Token platform Colexion.
Built on the Polygon Network, Colexion offers a wide range of digital collectibles to fans from various fields.
Recommended: Pulp Fiction goes NFT, director Quentin Tarantino to auction seven unseen scenes
Indian NFT craze not confined to Bollywood
While several Bollywood stars have joined the NFT race, the craze for digital collectibles has not stayed confined within its corridors.
India boasts of producing over 1800 films in various languages. Bollywood, the leading Hindi cinema industry, represents 43% of Indian net box-office revenue.
Other prominent film industries in the country include the Malayalam film industry, Kannada film industry, Bengali, Marathi, Sanskrit, Punjabi, and Bhojpuri film industries. According to reports, by 2020, the combined revenue of all regional film industries in India surpassed that of Bollywood.
NFT platform Diginoor has partnered with several regional stars to launch digital collections from some of the biggest names outside Bollywood. The stars in its kitty include the famous Rajnikanth,
South-Indian star-turned-politician Kamal Hassan partnered with Fantico, an Indian digital collectibles platform, to launch his NFT collection.
“We are very excited to announce that we will be launching a game-based Metaverse which will be first of its kind in India. To have a legend such as Kamal Haasan on our platform will only set the trend for more creators to adapt to the future of fan engagement,”
Economic Times quoted Fantico CEO saying.
Malayalam movie star Dulquer Salmaan reportedly signed an agreement with Abu Dhabi-based company Ammbr. Based on the agreement, the actor will hold an NFT sale for his film Kurup.
Indian Rapper Raftaar and famous singer Mika Singh have also joined the NFT race outside of the film industry.
Meanwhile, global sales volumes of non-fungible tokens have surged to $10.7 Billion in the third quarter of 2021, according to data from market tracker DappRadar. The figure is up more than eight times from the previous quarter.
