Bollywood NFTs are Booming But Bollywood Films Can’t Say the Same

The NFT craze is selecting up in India, particularly in Bollywood, the nation’s Hindi language movie trade. Plenty of movie stars, together with Amitabh Bachchan, Sunny Leone, and Salman Khan have forayed into the NFT scene. Actually, in keeping with a report by Fortune, trade gamers have raked in almost $4 million in NFT gross sales since final November.

Bollywood superstar Amitabh Bachchan and his NFTs
Bollywood celebrity Amitabh Bachchan dropped his NFTs late final 12 months. Credit: Amitabh Bachchan/Twitter

As opposed, the Bollywood trade in itself has not been doing so nicely. The report added that theatre revenues dropped by round 80% to $378 million in 2020. Whereas theatres began reopening in October, many states at the moment are closing theatres amid rising COVID-19 instances. Rising NFT gross sales may simply be serving to the trade fight the consequences of the pandemic.

Bollywood NFTs on the rise

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Since late 2021, an rising variety of Bollywood stars have launched their NFT collections. The trade’s iconic actor Amitabh Bachchan, for instance, bought his NFT assortment for a file $966,000! He was one of many first actors within the nation to launch NFTs. 

“On this world of digitization, NFTs have opened a brand new realm of alternatives to have interaction with my followers much more than earlier than,” he had stated then. Bachchan’s NFT assortment included Madhushala NFTs, The Loot Field NFT, Iconic Classic Posters NFT and BigB Punks and NFT Arts. The Madhushala NFT assortment, that includes Bachchan’s recording of his father’s poem, alone fetched $756,000.

One other notable Bollywood star within the NFT scene is Sunny Leone. She introduced her debut NFT assortment in September. Reportedly, she was the primary Bollywood actress to drop NFTs. She has additionally introduced NFT collectibles referred to as the MISFTIZ.

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In the meantime, NFT market creator, NFTically has teamed up with BollyCoin to launch Dabangg NFT collectibles. It is going to function memorabilia from the Salman Khan-starrer franchise, Dabangg. The gathering, from Indian film producer Arbaaz Khan, is now reside on BollyCoin. Moreover, Salman Khan had beforehand launched Chingari NFT Market and its native crypto token, $GARI.

Bollywood NFT collectibles on sale on marketplace BollyCoin
Bollywood NFTs on BollyCoin NFT market. Credit: BollyCoin

And that’s not all! Even playback singers and music composers like Kailash Kher has introduced NFTs. Extra lately, Grammy-winning producer and music director A.R Rahman dropped his NFTs in collaboration with the HBAR Basis. Simply days again, NFTs for Bollywood film, 83 have been bought out in an hour!

It’s not simply Bollywood!

Because the NFT craze picks up in India, it’s not simply Bollywood stars which have launched their NFT collections. A number of sports activities stars too have hopped on the bandwagon. For instance, cricketer Yuvraj Singh celebrated his fortieth birthday by releasing his NFT assortment on Colexion final month. The identical month, cricketer Rohit Sharma introduced his debut NFT assortment in partnership with FanCraze. 

Equally, Jhulan Goswami, former captain of India’s nationwide ladies’s cricket group, dropped her NFT assortment final month. She had teamed up with main sports activities manufacturers like CricFlix, RevSportz, and Fanatic Sports activities for a similar.

Absolutely, main celebrities coming into the NFT areas spells huge issues for the Indian NFT trade as an entire. It’s possible to assist take NFTs mainstream and additional NFT adoption within the nation.

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