Amitabh Bachchan’s NFT collections reach Rs 3.8 cr on Day 1 of auction

Megastar Amitabh Bachchan’s NFT collections of ‘Madhushala’, autographed posters and collectibles, have received bids worth USD 520,000 (about Rs 3.8 crore) on the first day of auction being organised by Beyondlife.Club.

In August, BeyondLife.club, a venture between Rhiti Entertainment and GuardianLink.io, had announced that Bachchan will roll out his NFT (non-fungible token) collection on the platform.

An NFT is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore, not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.

Bachchan’s ‘Madhushala’ NFT collection has received the highest-ever bidding in India at USD 420,000 on Day 1 of the auction, according to a statement.

Madhushala NFT is the poem collection of the actor’s father recorded in the superstar’s own voice. In addition to this, the auction also has seven autographed posters from his iconic movies and half a dozen collectibles of “punks and NFTs art and Poster collection” which have received bids worth over USD 100,000 on Day 1.

The auction, which opened on November 1 and will close on November 4, is being hosted on BeyondLife.club. It is powered by Guardian Link, one of India’s biggest decentralised branded marketplace for NFTs.

Another feature in the auction is the ‘Loot Box’ worth USD 10 each, wherein every buyer of the box gets an assured art piece from the NFT collection. The Loot box offers 5,000 collectibles, for which over 300,000 crypto collectible fans have signed up globally.

The NFT collection is based on Guardian Link’s Anti-RIP NFT technology that prevents the NFT from being copied, thereby, protecting the exclusive rights of its owner.

“In a world of metaverses and digitisation, NFTs have opened the doors to a new realm of connectivity and an opportunity to engage with my fans in a new way.

“The NFTs will offer the audience a chance to own an original piece of rare and cherished moments of my life including stories from my films, recitation from Madhushala, some back stories and moments from my films and these moments remain with them forever,” Bachchan said.

Keyur Patel, co-founder and chairman of Guardian and co-founder of Beyondlife.Club, said the overwhelming response on Day 1 shows Bachchan’s affinity towards his million fans across the globe.

“The excitement is only growing from here as the bidding number are still soaring on Day 2. This is truly a moment of pride for our marketplace to have been able to not only successfully launch the NFT drop but also win the trust of our audience,” he added.

Arun Pandey, MD and chairman of Rhiti Group and co-founder of Beyondlife.Club, said these NFTs are a piece of Amitabh Bachchan and a precious opportunity for his fans to keep that piece with them forever.

“We are eagerly looking forward to more such drops by some of our country’s most celebrated celebrities and personalities alike. We are glad our marketplace could reach out to the emotional commerce aficionados with Bachchan ji’s NFTs,” he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor