Variety

Big B Amitabh Bachchan's ’s NFT collection sets the cash registers ringing

Our Bureau Mumbai | Updated on November 03, 2021

NFTs have opened the doors for a new realm of connectivity, says Amitabh Bachchan   -  PTI

Attracts record bidding on Day 1 of the auction

Veteran Bollywood actor Amitabh Bachchan’s non-fungible token (NFT) collection achieved record bidding in India on the first day of its auction.

The NFT named ‘Madhushala’ is a collection of poems written by his father, famed poet Harivansh Rai Bachchan and recorded in his voice. The NFT received a bidding of $420,000 on Tuesday and the auction will continue for two more days.

Along with the collection of poems, the collectibles include seven autographed posters from his iconic movies, apart from a few other things which attracted bids worth $100,000 on the first day.

Global markets

Although fetching highest ever sums in India, Big B’s collection is far behind what some other NFTs are fetching in the global market. For instance, earlier this year inventor Tim Berners-Lee’s original source code of the world wide web fetched $5.4 million at a Sotheby’s auction.

NFTs are a type of digital asset which use blockchain to record the ownership of items such as images, videos and other collectibles.

The auction for Bachchan’s NFT was hosted on decentralised branded marketplace BeyondLife.club and powered by Guardian Link.

The auction offered ‘Loot Boxes’ for $10 each. Every buyer of this box would get an assured art piece from the NFT collection.

Excitement New way of connecting

The Loot box went live on November 2 at 7 pm offering 5,000 collectibles for which over 300,000 crypto collectible fans have signed up globally.

Keyur Patel, Co-Founder & Chairman of Guardian and Co-Founder Beyondlife.club, said, “The overwhelming response on Day One of the NFTs dropped by Amitabh Bachchan shows his affinity towards his million fans in India and across the globe... The excitement is only growing from here as the bidding numbers are still soaring on Day Two.”

Bachchan said that in a world of metaverse and digitisation, NFTs have opened the doors to a new realm of connectivity and an opportunity to engage with fans in a new way.

This NFT collection comes with the promise of being copy proof, thereby protecting the exclusive rights of its owner.

Published on November 02, 2021

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