The inaugural non-fungible token (NFT) of Bollywood megastar Amitabh Bachchan has attracted the highest ever bidding of its kind in the nation, indicating a likely, incoming wave of digital asset collecting in the country. Amitabh Bachchan has been the first Bollywood actor to introduce his own NFT line, in what appears to be a trend in the Indian film business, and the stint has proven to be a success so far. During the first day of auction organised by Beyondlife.Club on Tuesday, the star’s NFT collections of ‘Madhushala,’ signed posters, and collectibles attracted bids totaling Rs 3.8 crore ($520,000).
In August, Amitabh Bachchan revealed on Beyondlife.Club, an Indian NFT platform founded by decentralised NFT exchange GuardianLink.io, that he will introduce his own non-fungible token or NFT collection on the platform. According to PTI, Bachchan’s ‘Madhushala’ NFT collection achieved the highest-ever bidding in India on Day 1 of the auction, with USD 420,000, according to a statement made by Beyondlife.Club. The auction, which began on Monday, November 1st, will end on Thursday, November 4th. Let’s take a closer look at NFTs and Amitabh Bachchan’s collection of these digital tokens on that note.
What is an NFT?
NFTs are one-of-a-kind digital assets that reflect real-world artefacts like music, art, in-game articles, movies, and even social network postings. NFTs are non-fungible, which means they can’t be substituted for anything else since they’re one-of-a-kind and irreplaceable. Since 2014, these digital tokens have existed.
But what distinguishes NFTs? One may claim that data from the internet can be simply stored. Even if one can receive a free replica of one item in an NFT, the unique qualities will almost certainly be overlooked. This is when the non-fungible aspect enters the picture. To put it another way, Van Gogh’s painting The Starry Night is accessible in millions of copies all over the world. However, the original, which is maintained at Moscow’s Pushkin Museum, is still valuable.
What is the Amitabh Bachchan NFT?
“The Amitabh Bachchan NFT is a bundle of limited edition digital collectibles showcasing the Bollywood superstar,” according to Beyondlife’s website. It features some of the superstar’s most unique creations… Vintage posters, digital art, and “Big B Punks” are some of the things that come to mind when I hear poetry in his voice.”
According to rumours, Madhushala NFT is the actor’s father’s poem collection, which was recorded in his own voice. The sale also includes seven autographed posters from his classic films, as well as six of the ‘punks,’ as well as a collection of NFT art and posters. Another element of this NFT is a ten-dollar ‘Loot Box,’ which guarantees customers a piece of art from the NFT collection. The Loot Box is limited to 5,000 pieces, which were all sold out on Tuesday.
How to purchase the Amitabh Bachchan NFT?
To purchase the Amitabh Bachchan NFT, you must first register with Beyondlife.Club. Then, using the wallet option, you must load your wallet with the appropriate amount of money in order to purchase the items. To do so, go to the Deposit Funds section and enter the amount to be added. After that, you may either bid in the auction or buy the NFT using the money in your wallet. Cryptocurrencies, UPI, and credit cards may all be used to fund your wallet.