In the last year, Non-Fungible Tokens or NFTs have taken the world by storm. Blockchain-based digital collectibles have completely changed the way we look at investments and assets. Digital art, music, fashion statement pieces, film posters and much more, the NFT world has been growing like never before.
NFTs are crypto digital assets that exist within a blockchain and are unique and exclusive. Every NFT comes with its own unique code and it cannot be replicated.
The NFT business goes into billions as some of the most unique ones can cost millions. To put things into perspective, digital artist Beeple sold an NFT for USD 69 million at a Christie’s auction. Twitter founder Jack Dorsey sold his first tweet for 1,630.58 Ether, which comes to about USD 2.9 million at the time of sale.
If you are wondering what determines the worth of these NFTs, then read on.
Though there are no actual rule books to go by, the credibility of the art and artist in the physical world plays the most crucial role in deciding the price. The story behind the artwork, its nature and the social currency of the artist all have a role to play.
According to Vishakha Singh, VP, WazirX NFT Marketplace, “For NFTs of artworks that also have a physical presence, they are priced anywhere between 1-10 percent of the physical art piece. However, pricing is primarily decided by the creators of the NFT.” Since it cannot be replicated, every NFT becomes a rare piece of art. This ‘hard-to-get’ factor coupled with its utility in the digital as well as, for some, in the physical world makes up for its price.
Coming to the home grounds, there are no regulators to monitor crypto and NFTs in India yet. In March 2021, the government announced that all companies must show their investments made in cryptocurrencies.
Thus, Singh further added, “The Blockchain and Crypto Assets Council (BACC), a part of the Internet and Mobile Association of India (IAMAI), is, for now, better equipped to devise guidelines. We will leave to government bodies to propose the right body to regulate it.”
2021 has proved that Indian celebrities, too, have been swayed by NFTs. From Amitabh Bachchan and Manish Malhotra to Yuvraj Singh, all have one thing in common — they all have joined this bandwagon and launched their own NFT collections.
Here are Indian celebrities who have launched their own NFTs
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1 /10
Bollywood legend Amitabh Bachchan hopped onto the NFT bandwagon and in November 2021, he sold the recitation of his father’s iconic poem Madhushala in the form of NFTs.
Big B launched the poem as part of his NFT collection, which also had autographed posters of Sholay and other memorabilia. The transaction was done via NFT marketplace BeyondLife.club and the entire collection was sold for about Rs 7.18 crore.
2 /10
Trust Bollywood’s hitmaker to make a bang whenever he ventures into something — be it films or the NFT world. In October 2021, the Dabangg actor teamed up with Bollycoin, a Bollywood NFT marketplace, to launch his NFT collection.
On 25 December 2021, Salman Khan took to Twitter to launch this NFT space and his Dabangg-based NFT series. The collection went live on 30 December and featured 200 NFTs, out of which 42 were movie scenes. The NFTs will end on 11 February 2022 and during this period, eight auctions will be held. Investors can deal in cryptocurrencies like Ethereum and Polygon.
Bollycoin, founded by Atul Agnihotri, has partnered with some of the most well-known production houses like Salman Khan Films, Arbaaz Khan Production, Sohail Khan Productionz and Reel Life Production Pvt. Ltd.
3 /10
Superstar Rajinikanth is no stranger to massive hits and this time, the actor delivered another one as he delved into the NFT world to launch his movie collectibles. Partnering with Singapore-based NFT marketplace Diginoor.io, Rajinikanth launched NFTs based on his 2007 Tamil action blockbuster Shivaji The Boss in July 2021.
Diginoor.io signed up with the film’s production house AVM Studios and the opening price for seventeen NFTs ranged from USD 99 (Rs 7,386.59) to USD 1,500 (Rs 1,11,918). Needless to say, they were immediately sold out. The platform accepted transactions via debit cards, credit cards or cryptocurrency.
4 /10
Actor-turned-politician and South superstar Kamal Haasan, too, has his NFT collection. The announcement came a week after Amitabh Bachchan made the whopping earnings from his collection.
Haasan teamed up with celebrity NFT platform Fantico to auction his movie memorabilia, the date for which remains undisclosed. Fantico founder Abhayanand Singh, tweeted “Fantico, an NFT and Gaming Company owned by Vistas Media Capital is proud to associate with Mr Kamal Haasan on his foray into the Metaverse and NFTs!”
It doesn’t stop just there. Kamal Haasan is also the first Indian to have his own metaverse, which will feature his own avatar. Fantico will create a metaverse game in which the avatar will have its own world. Participants and fans will be able to interact with the avatar, buy memorabilia and even participate in meet-and-greet sessions.
The actor, who joined the venture via Lotus Media Entertainment, is said to launch 100 to 1000 NFTs, which will be based on movie posters, souvenirs, avatars and others.
5 /10
India’s ace fashion designer Manish Malhotra becomes the country’s first from his field to enter the crypto world. In October 2021, he launched five exclusive sketches and runway GIFs of his couture, which were worn by Lisa Ray, Deepika Padukone, Kareena Kapoor Khan and Alia Bhatt.
The auction went live on the WazirX NFT marketplace and was immediately sold out. One of his outfits’ sketches, which was famously worn by Kareena Kapoor Khan called the Illuminous Showstopper, earned the highest — 3,000 WRX, which roughly comes to about USD 4,000 (almost Rs 2.8 lakh).
6 /10
Actress Sunny Leone, too, joined the NFT bandwagon and partnered with NFT platform Mintdropz to become the first Indian actress to launch her collection — Misfitz by Sunny Leone. Bold and quirky motifs, loud characters and all things eclectic, the NFTs were unique.
The collection had over 9,600 NFTs and was sold out in November. An overjoyed Sunny Leone told News 18, “This was a private sale and it sold out immediately. I am beyond excited about the hype behind my collection and the support from my community.”
7 /10
The cricket legend continues to enthral fans with his commentary and humour. Now, at 72, Sunil Gavaskar has begun a new innings by entering the NFT world. The former cricketer launched his collection on alwaysfirst.io in October, which went live on 21 November 2021.
The original Little Master took to his Instagram account to drop the collection, and his son, Rohan Gavaskar, announced it on Twitter. The theme is “Always First.”
8 /10
If you remember Dinesh Karthik’s winning stroke where he hit a six against Bangladesh in 2018 at the Nidahas Trophy, then this news will surely get you excited.
Launched in collaboration with his brother-in-law and squash player Sourav Ghoshal, Karthik immortalised his masterstroke in an NFT, which went live on 12 October 2021.
Titled Six For The Win, the NFT was auctioned on rarrible.com on 22 October. It was worth 5 Ethereum or around INR 15 lakh. This was India’s first sports and cricket NFT.
Karthik told CNBC, “I was keen on getting my emotion out there in the artwork. I wanted to encapsulate the moment and take the fan through what it must feel like for a cricketer, as the bowler stands at the top of his mark.”
9 /10
Yuvraj Singh is the most recent person to join the NFT craze when he launched his collection on 12 December 2021 on his 40th birthday. The collection went live on 25 December in partnership with NFT marketplace Colexion.
After sharing the news on Twitter, the cricketer is all geared up with his collection that features his bats, jerseys and other special sports memorabilia. Fans are all set for a collection that will take them through his cricketing days and some milestone events.
10 /10
Another top fashion designer, Raghavendra Rathore is known for his couture of ethnic menswear and bridal attires. The designer launched his NFT collection in 2021 on the WazirX NFT marketplace in association with the Fashion Design Council of India (FDCI) x Lakme Fashion Week and became the first Indian fashion designer to use it for a charity cause.
The collection featured two sets of NFTs — the first set was inspired by the heritage appeal of the brand and the second was more of the designer’s artworks, which were digitised.
The collection featured some of his iconic designs and offered a peek into the initiatives taken by the Raghavendra Rathore Foundation. A portion of the sale proceeds went to the foundation and its various charitable projects.
Hero image: Courtesy Amitabh Bachchan/Instagram; Featured image: Courtesy Salman Khan/Instagram
Trinetra is an ardent foodie and bibliophile who writes about films, travel, food and lifestyle. As a writer and literature student, slam poetry and storytelling are her go to jam. When not working, Trinetra is busy looking for her next place to visit or binge-watching Instagram videos for travel inspiration.
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