The NFT craze is picking up in India, especially in Bollywood, the country’s Hindi language film industry. A number of film stars, including Amitabh Bachchan, Sunny Leone, and Salman Khan have forayed into the NFT scene. In fact, according to a report by Fortune, industry players have raked in nearly $4 million in NFT sales since last November.
As opposed, the Bollywood industry in itself has not been doing so well. The report added that theatre revenues dropped by around 80% to $378 million in 2020. While theatres started reopening in October, many states are now closing theatres amid rising COVID-19 cases. Rising NFT sales might just be helping the industry combat the effects of the pandemic.
Bollywood NFTs on the rise
Since late 2021, an increasing number of Bollywood stars have released their NFT collections. The industry’s iconic actor Amitabh Bachchan, for example, sold his NFT collection for a record $966,000! He was one of the first actors in the country to launch NFTs.
“In this world of digitization, NFTs have opened a new realm of opportunities to engage with my fans even more than before,” he had said then. Bachchan’s NFT collection included Madhushala NFTs, The Loot Box NFT, Iconic Vintage Posters NFT and BigB Punks and NFT Arts. The Madhushala NFT collection, featuring Bachchan’s recording of his father’s poem, alone fetched $756,000.
Another notable Bollywood star in the NFT scene is Sunny Leone. She announced her debut NFT collection in September. Reportedly, she was the first Bollywood actress to drop NFTs. She has also announced NFT collectibles called the MISFTIZ.
Meanwhile, NFT marketplace creator, NFTically has teamed up with BollyCoin to launch Dabangg NFT collectibles. It will feature memorabilia from the Salman Khan-starrer franchise, Dabangg. The collection, from Indian movie producer Arbaaz Khan, is now live on BollyCoin. Besides, Salman Khan had previously launched Chingari NFT Marketplace and its native crypto token, $GARI.
And that’s not all! Even playback singers and music composers like Kailash Kher has announced NFTs. More recently, Grammy-winning producer and music director A.R Rahman dropped his NFTs in collaboration with the HBAR Foundation. Just days back, NFTs for Bollywood movie, 83 were sold out in an hour!
It’s not just Bollywood!
As the NFT craze picks up in India, it’s not just Bollywood stars that have released their NFT collections. Several sports stars too have hopped on the bandwagon. For example, cricketer Yuvraj Singh celebrated his 40th birthday by releasing his NFT collection on Colexion last month. The same month, cricketer Rohit Sharma announced his debut NFT collection in partnership with FanCraze.
Similarly, Jhulan Goswami, former captain of India’s national women’s cricket team, dropped her NFT collection last month. She had teamed up with leading sports brands like CricFlix, RevSportz, and Fanatic Sports for the same.
Surely, major celebrities entering the NFT spaces spells big things for the Indian NFT industry as a whole. It is likely to help take NFTs mainstream and further NFT adoption in the country.
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