The irreplaceable token (NFT) collection of Bollywood superstar Amitabh Bachchan’s ‘Madhushala’, autographed posters and collectibles, has received bids close to $1 million at the end of the auction.
The auction, which was organized by BeyondLife.Club, opened on 1 November and closed on 4 November. It is powered by GuardianLink, one of India’s largest decentralized branded marketplaces for NFTs.
Bachchan’s ‘Madhushala’ NFT collection has received the highest ever bid in India at $756,000 at the close of the auction. It has received bids of $420,000 on the first day of the auction.
Madhushala is the poetry collection of the actor’s father recorded in his own voice of NFT Superstar. In addition, the auction also features seven autographed posters of his iconic films and a half-dozen collectibles from the “Punk and NFT Art and Poster Collection,” which have received bids of over $100,000 on the first day.
Another feature at the auction is ‘loot boxes’, priced at $10 each, in which each buyer of the box receives an assured art piece from the NFT collection. Loot Box offers 5,000 collectibles, for which over 300,000 crypto collectible fans have signed up globally.
‘Loot Box’ Drops has received bids for $50,000.
Limited-edition vintage posters with digital NFT Certificates of Authenticity sold for $94,052, while Bigby Punks and NFT Arts sold for $66,900.
In August, BeyondLife.Club, a venture between Rhythm Entertainment and GuardianLink.io, announced that Bachchan would launch his NFT (fungible token) collection on the platform.
The auction, which opened on November 1 and closes on November 4, is being held on Beyondlife.club.
The fury for NFTs has taken India’s entertainment and social media industry by storm, with many Bollywood and regional stars set to sell their digital collections.
However, Bachchan was not the first Indian celebrity to go live with the NFT auction.
Malayalam film star Dulquer Salmaan signed an agreement with Abu Dhabi-based technology company Ambr last month to conduct an NFT sale for his film Kurup. Salman, who also co-produced the film, blocked the poster of the film signed by both director Srinath Rajendran and Salman, besides the videos containing embedded music and digital artwork.
Rapper Raftaar, singer Mika Singh and YouTuber Amit Badana have also tied up with NFT Marketplace.
What is NFT?
NFTs are a type of digital asset that uses blockchain to record the ownership of images, videos and other collectibles. His roaring popularity has taken many by surprise but the explosive growth shows no signs of waning.
NFTs are bought by collectors and investors and can be bought and sold in the secondary market. The creator of the NFT has the option of either putting a unique piece on the block or selling the NFT to a limited number of collectors.
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