The world has become more dependent on the internet than ever over the course of the last two years. The internet is now about more than just productivity and entertainment. Humans are living a chunk of their lives online. Many leading in the IT space — Facebook and even Microsoft, to name names — have […]
The world has become more dependent on the internet than ever over the course of the last two years. The internet is now about more than just productivity and entertainment. Humans are living a chunk of their lives online. Many leading in the IT space — Facebook and even Microsoft, to name names — have expressed the inevitable possibility of the internet becoming a metaverse.
As that happens people begin to garner belongings online. Launched about 7 years ago, NFTs have caught major traction when it became a challenge to acquire belongings in the physical realm. They are now catching on in India, too.
For the unversed, an NFT or a non-fungible token is a unique and non-interchangeable unit of data stored generally on a blockchain, a much more secure version of a database. They hold real value in the world but cannot be broken down like cryptocurrencies can be.
Since American celebs, from Snoop Dogg to Jake Paul, seem to have embraced NFTs, Bollywood, of course, was not to lag far behind. As Indian artists find their footing in the NFT business, figuring out legalities and taxation, many renowned names enter the space.
In September 2021, megastar Amitabh Bachchan became the first Bollywood actor to launch his own NFT. These will include autographed posters of his movies and will be up for bidding by the first week of November.
The Radhe star took to social media to let his fans know that he will be delving into NFTs, launching ones oh his own, and soon. Much cannot be made of what the content is to be, but one can assume it would it would be on lines similar to Big B’s.
Sunny Leone has also created an entire website for her NFTs, in partnership with a Silicon Valley-based start-up, Mintdropz.
It is not just actors with NFTs of their own. Fashion designer Manish Malhotra recently sold NFTs of digital sketches of some of his most famous creations for $4,000 apiece. Malhotra’s website shows one can purchase some of his bridal wear outfits at a lower price range of $2,500-$3,500.
The people in sports are not far behind. Indian cricketer Dinesh Karthik, via an NFT platform, is auctioning a digital art reel from a cricket match where he hit a match-winning six on the last ball for around 5 ethereums, a digital currency, worth around $20,000. He is, however, yet to receive any bids. Rishabh Pant has also affiliated himself with the platform.