Bollywood’s angry young man is taking the lead again. Amitabh Bachchan will create his own NFTs (nonfungible tokens). With this, he will become the first Indian actor to do this at a time when the world is becoming more interested in digital assets. Over $2.5 billion worth of NFTs have already been sold worldwide.
Bachchan will release his NFTs, a limited collection of original and limited artworks that revolve around him. These include posters like the one of Sholay, verses of “Madhushala” narrated by him with backstories and rare digital treasures.
This platform is a partnership between Rhiti Entertainment, GuardianLink.io and No Code NFT Exchange Platform. Bachchan said that he had joined Rhiti Entertainment in Singapore and would soon launch NFT’s on the platform.
The NFT auction will be held in the first week of November. To participate, log in to BeyondLife.Club to bid during the auction and exceed the reserve price to become the proud owner of a unique NFT. It can be traded or sold later. You can use your debit or credit card to make payments during the auction.
The auction is a while off so the site is asking fans for suggestions on the type of NFTs that they’d like Bachchan to make. It could be an audio clip or a signed poster, or even a meet-and-greet. The website encourages you to be wild.
Arun Pandey (MD and Chairman of Rhiti Group) stated that the NFT was launched in partnership with Bachchan. “Artists are latching onto this technology to create value around life and work, something that was almost dormant before.” This venture has two main goals: to empower athletes, artists and celebs globally, and to help diehard fans get the best content.
Rhiti Group deals in celebrity marketing, talent management and films and entertainment. The company represents athletes like MS Dhoni and Bhuvneshwar Kulma, as well as Kedar Jadhav.
An NFT (digital asset) is a digital asset that can be used to represent real-world objects like art, music and videos. Most commonly, it is sold online using cryptocurrencies. It is generally encoded using the same software that many cryptos use – blockchain. To provide proof of ownership, NFTs can be tracked on blockchain. The creator of an NFT receives cryptocurrency once it is sold.
Although cryptocurrencies can be transferred and exchanged to one another, NFTs can only be used for their own purposes. Additionally, cryptocurrencies like Bitcoin can be broken down into smaller units called Satoshi (100 millionths of a bitcoin). However, NFTs can’t be disassembled as they are one unit. NFT permits the buyer to purchase an original item. It also includes in-built authentication that serves as proof of ownership. They are highly collectable because of this.
WazirX, a crypto startup in the US, recently launched an NFT to over 300 creators, including canvas artists, 3D artists and digital artists. Internationally, NFT has been explored by celebrities like Snoop Dogg and Ellen Degeneres, as well as Lindsay Lohan, Paris Hilton, and Jack Dorsey (Twitter CEO).
Christie’s sold the most expensive NFT in March of this year. It was created by Mike Winklemann (better known as Beeple), a digital artist who is best known for his daily drawings Everydays. Christie’s sold it for a record breaking $69.3 million.
